Monument Capital Management Acquires New Stake in Paychex, Inc. (PAYX)

Monument Capital Management acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, HoldingsChannel reports. The fund acquired 29,159 shares of the business services provider’s stock, valued at approximately $1,985,000.

Several other large investors also recently made changes to their positions in PAYX. Columbia Asset Management acquired a new stake in Paychex during the 4th quarter valued at $224,000. Ironwood Investment Counsel LLC raised its stake in Paychex by 3.5% during the 4th quarter. Ironwood Investment Counsel LLC now owns 26,705 shares of the business services provider’s stock valued at $1,818,000 after purchasing an additional 915 shares during the period. Stephens Inc. AR raised its stake in Paychex by 9.7% during the 4th quarter. Stephens Inc. AR now owns 53,429 shares of the business services provider’s stock valued at $3,637,000 after purchasing an additional 4,707 shares during the period. Calton & Associates Inc. acquired a new stake in Paychex during the 4th quarter valued at $151,000. Finally, Raymond James Trust N.A. raised its stake in Paychex by 1.1% during the 4th quarter. Raymond James Trust N.A. now owns 78,177 shares of the business services provider’s stock valued at $5,322,000 after purchasing an additional 837 shares during the period. Institutional investors own 67.98% of the company’s stock.

Paychex, Inc. (NASDAQ:PAYX) opened at $64.23 on Wednesday. Paychex, Inc. has a one year low of $54.20 and a one year high of $73.10. The firm has a market cap of $23,174.65, a price-to-earnings ratio of 27.57, a PEG ratio of 3.46 and a beta of 0.94.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The business had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. During the same period in the prior year, the business posted $0.56 earnings per share. Paychex’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities research analysts predict that Paychex, Inc. will post 2.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, January 31st. Paychex’s payout ratio is 85.84%.

Several brokerages have issued reports on PAYX. BMO Capital Markets reissued a “hold” rating and set a $70.00 target price on shares of Paychex in a research note on Wednesday, January 24th. BidaskClub downgraded shares of Paychex from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Bank of America downgraded shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $68.00 price target on shares of Paychex in a research note on Friday, December 22nd. Finally, Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target on the stock in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.77.

In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total transaction of $682,900.00. Following the transaction, the vice president now directly owns 31,578 shares of the company’s stock, valued at $2,156,461.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Gioja sold 34,311 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the transaction, the insider now directly owns 63,374 shares in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

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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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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