Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Capital Advisors Inc. OK

Capital Advisors Inc. OK lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,993 shares of the business services provider’s stock after buying an additional 27,551 shares during the quarter. Capital Advisors Inc. OK’s holdings in Paychex were worth $36,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in shares of Paychex in the first quarter valued at about $3,255,000. Ashton Thomas Private Wealth LLC boosted its stake in shares of Paychex by 5.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,471 shares of the business services provider’s stock worth $1,286,000 after acquiring an additional 569 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Paychex by 4.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 5,019 shares of the business services provider’s stock worth $616,000 after acquiring an additional 199 shares during the period. Janney Montgomery Scott LLC increased its stake in Paychex by 2.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 325,723 shares of the business services provider’s stock valued at $39,999,000 after purchasing an additional 8,867 shares in the last quarter. Finally, Hollencrest Capital Management increased its position in shares of Paychex by 14.9% in the first quarter. Hollencrest Capital Management now owns 1,313 shares of the business services provider’s stock valued at $161,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PAYX shares. Morgan Stanley lifted their price objective on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group boosted their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price target on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lifted their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.77.

Insider Activity

In other news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael E. Gioja sold 26,428 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at $2,018,020.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,608 shares of company stock valued at $9,384,512. 11.40% of the stock is currently owned by company insiders.

Paychex Price Performance

PAYX stock opened at $139.09 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $136.31 and its two-hundred day moving average is $127.39. The company has a market capitalization of $50.06 billion, a PE ratio of 29.66, a P/E/G ratio of 3.89 and a beta of 1.00. Paychex, Inc. has a 52-week low of $108.58 and a 52-week high of $144.17.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.82%. Paychex’s dividend payout ratio is currently 83.58%.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.