Clarkston Capital Partners LLC Has $14.45 Million Position in Paychex, Inc. (PAYX)

Clarkston Capital Partners LLC decreased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,833 shares of the business services provider’s stock after selling 753 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Paychex were worth $14,452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Paychex by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 132,984 shares of the business services provider’s stock valued at $8,664,000 after purchasing an additional 400 shares during the period. BTIM Corp. lifted its position in Paychex by 27.6% during the 4th quarter. BTIM Corp. now owns 109,034 shares of the business services provider’s stock valued at $7,104,000 after acquiring an additional 23,600 shares during the period. JGP Wealth Management LLC lifted its position in Paychex by 2.1% during the 4th quarter. JGP Wealth Management LLC now owns 41,275 shares of the business services provider’s stock valued at $2,689,000 after acquiring an additional 836 shares during the period. BLB&B Advisors LLC lifted its position in Paychex by 5.1% during the 4th quarter. BLB&B Advisors LLC now owns 34,851 shares of the business services provider’s stock valued at $2,271,000 after acquiring an additional 1,696 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its position in Paychex by 142.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 644 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 378 shares during the period. 69.59% of the stock is currently owned by institutional investors.

Shares of PAYX traded up $0.27 during mid-day trading on Thursday, hitting $68.75. 163,482 shares of the company traded hands, compared to its average volume of 2,025,925. Paychex, Inc. has a 1 year low of $59.36 and a 1 year high of $76.02. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.73 and a beta of 1.01.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, December 19th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $858.90 million during the quarter, compared to analyst estimates of $860.61 million. Paychex had a net margin of 27.99% and a return on equity of 41.61%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities analysts predict that Paychex, Inc. will post 2.86 earnings per share for the current year.

PAYX has been the subject of a number of recent research reports. Credit Suisse Group raised shares of Paychex from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, October 2nd. Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $64.00 to $68.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. Jefferies Financial Group started coverage on shares of Paychex in a report on Monday, October 1st. They set a “hold” rating and a $75.00 price objective for the company. Moffett Nathanson started coverage on shares of Paychex in a report on Thursday, October 4th. They set a “neutral” rating and a $79.00 price objective for the company. Finally, BidaskClub cut shares of Paychex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $72.60.

In other Paychex news, Director Joseph Doody bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was bought at an average cost of $66.50 per share, for a total transaction of $66,500.00. Following the completion of the transaction, the director now owns 16,639 shares of the company’s stock, valued at approximately $1,106,493.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.80% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2019/01/17/clarkston-capital-partners-llc-has-14-45-million-position-in-paychex-inc-payx.html.

About Paychex

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

Read More: Capital gains and your 401(k) or IRA

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)

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit