7,308 Shares in Paychex, Inc. (PAYX) Acquired by Jump Trading LLC

Jump Trading LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, Holdings Channel reports. The fund acquired 7,308 shares of the business services provider’s stock, valued at approximately $498,000.

Several other institutional investors also recently modified their holdings of PAYX. American International Group Inc. raised its position in shares of Paychex by 1,975.5% during the 4th quarter. American International Group Inc. now owns 7,203,048 shares of the business services provider’s stock worth $490,384,000 after purchasing an additional 6,856,001 shares during the last quarter. Element Capital Management LLC acquired a new position in shares of Paychex during the 4th quarter worth approximately $43,783,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Paychex during the 4th quarter worth approximately $17,551,000. Teacher Retirement System of Texas raised its position in shares of Paychex by 1,014.3% during the 4th quarter. Teacher Retirement System of Texas now owns 219,782 shares of the business services provider’s stock worth $14,963,000 after purchasing an additional 200,059 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Paychex by 103.2% during the 4th quarter. Lazard Asset Management LLC now owns 335,777 shares of the business services provider’s stock worth $22,858,000 after purchasing an additional 170,548 shares during the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.

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

Several analysts have commented on PAYX shares. BidaskClub raised shares of Paychex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $68.00 target price on shares of Paychex in a research note on Friday, December 22nd. Bank of America lifted their target price on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $70.00 target price on shares of Paychex in a research note on Wednesday, January 24th. Finally, Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price for the company in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Paychex presently has a consensus rating of “Hold” and an average price target of $62.77.

Shares of Paychex stock opened at $66.15 on Monday. Paychex, Inc. has a 12 month low of $54.20 and a 12 month high of $73.10. The stock has a market cap of $23,760.12, a price-to-earnings ratio of 28.39, a PEG ratio of 3.48 and a beta of 0.96.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The company had revenue of $826.50 million during the quarter, compared to analysts’ expectations of $823.48 million. During the same period in the previous year, the company earned $0.56 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts anticipate that Paychex, Inc. will post 2.44 EPS for the current year.

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Paychex 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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