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.
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.
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, 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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