Alexandria Capital LLC maintained its stake in Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,400 shares of the business services provider’s stock at the end of the second quarter. Alexandria Capital LLC’s holdings in Paychex were worth $706,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Paychex by 2,782.5% in the first quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after buying an additional 24,825,695 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Paychex by 23.8% in the first quarter. Ameriprise Financial Inc. now owns 4,237,537 shares of the business services provider’s stock worth $248,742,000 after buying an additional 813,930 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Paychex by 314.1% in the first quarter. JPMorgan Chase & Co. now owns 1,001,929 shares of the business services provider’s stock worth $59,014,000 after buying an additional 759,973 shares in the last quarter. Morgan Stanley boosted its position in Paychex by 27.5% in the first quarter. Morgan Stanley now owns 2,786,888 shares of the business services provider’s stock worth $164,149,000 after buying an additional 601,496 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Paychex by 6.3% in the first quarter. FMR LLC now owns 9,866,100 shares of the business services provider’s stock valued at $581,112,000 after buying an additional 588,027 shares during the period. Institutional investors own 68.68% of the company’s stock.
Paychex, Inc. (NASDAQ:PAYX) opened at 54.99 on Friday. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 24.44 and a beta of 0.96. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.03. The firm has a 50-day moving average of $56.62 and a 200-day moving average of $58.78.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. Paychex had a net margin of 25.93% and a return on equity of 42.65%. The firm had revenue of $799 million for the quarter, compared to the consensus estimate of $797.70 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that Paychex, Inc. will post $2.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Tuesday, August 1st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 28th. This is an increase from Paychex’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 3.64%.
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Several research analysts recently issued reports on the company. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price objective on shares of Paychex in a research note on Friday. Morgan Stanley raised Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 target price on the stock in a research report on Wednesday. They noted that the move was a valuation call. BidaskClub cut Paychex from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 6th. William Blair cut Paychex from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $60.00 price objective (down previously from $62.00) on shares of Paychex in a report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.28.
In other news, Director Joseph M. Tucci sold 6,000 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $57.82, for a total value of $346,920.00. Following the completion of the sale, the director now directly owns 53,621 shares in the company, valued at $3,100,366.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin Mucci sold 33,294 shares of the business’s stock in a transaction on Sunday, July 9th. The stock was sold at an average price of $57.40, for a total transaction of $1,911,075.60. Following the completion of the sale, the chief executive officer now owns 254,618 shares of the company’s stock, valued at $14,615,073.20. The disclosure for this sale can be found here. Insiders have sold 92,497 shares of company stock worth $5,300,889 over the last ninety days. 11.60% of the stock is currently owned by insiders.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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