Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by Dohj LLC

Dohj LLC increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,242 shares of the business services provider’s stock after acquiring an additional 97 shares during the period. Dohj LLC’s holdings in Paychex were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Czech National Bank boosted its position in Paychex by 47.7% during the third quarter. Czech National Bank now owns 56,084 shares of the business services provider’s stock worth $6,468,000 after purchasing an additional 18,103 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Paychex by 5.3% during the third quarter. Asset Management One Co. Ltd. now owns 212,611 shares of the business services provider’s stock worth $24,520,000 after purchasing an additional 10,609 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Paychex during the third quarter worth approximately $209,000. Handelsbanken Fonder AB boosted its position in Paychex by 12.5% during the third quarter. Handelsbanken Fonder AB now owns 52,230 shares of the business services provider’s stock worth $6,024,000 after purchasing an additional 5,803 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its position in Paychex by 13.4% during the third quarter. Simplicity Solutions LLC now owns 8,219 shares of the business services provider’s stock worth $948,000 after purchasing an additional 969 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Mark Anthony Bottini sold 15,481 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the completion of the transaction, the vice president now owns 82,690 shares of the company’s stock, valued at approximately $9,966,625.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.50% of the stock is currently owned by corporate insiders.

Paychex Trading Down 1.6 %

Shares of Paychex stock traded down $2.00 during mid-day trading on Friday, hitting $119.97. The stock had a trading volume of 2,400,533 shares, compared to its average volume of 2,120,168. The firm has a 50-day moving average of $121.94 and a two-hundred day moving average of $120.36. Paychex, Inc. has a 12-month low of $104.09 and a 12-month high of $129.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $43.18 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 3.44 and a beta of 0.93.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.01. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 EPS. Sell-side analysts forecast that Paychex, Inc. will post 4.71 earnings per share for the current year.

Paychex announced that its Board of Directors has approved a stock buyback program on Friday, January 19th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

PAYX has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Evercore ISI restated an “in-line” rating and issued a $118.00 target price on shares of Paychex in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a research report on Wednesday, April 3rd. Bank of America raised their target price on Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a research report on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of Paychex in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus target price of $123.00.

Paychex Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.