Capital Advisors Inc. OK Purchases Shares of 263,962 Paychex, Inc. (NASDAQ:PAYX)

Capital Advisors Inc. OK purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 263,962 shares of the business services provider’s stock, valued at approximately $19,161,000. Capital Advisors Inc. OK owned about 0.07% of Paychex at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Paychex by 2.2% during the first quarter. Geode Capital Management LLC now owns 6,247,886 shares of the business services provider’s stock worth $392,816,000 after buying an additional 136,294 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Paychex by 47.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,945,994 shares of the business services provider’s stock valued at $298,910,000 after purchasing an additional 1,272,990 shares during the period. Nordea Investment Management AB increased its stake in shares of Paychex by 213.8% in the 2nd quarter. Nordea Investment Management AB now owns 3,896,368 shares of the business services provider’s stock valued at $289,734,000 after acquiring an additional 2,654,543 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Paychex by 1.3% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,818,784 shares of the business services provider’s stock valued at $177,358,000 after acquiring an additional 35,197 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Paychex by 771.5% in the 2nd quarter. American International Group Inc. now owns 2,725,393 shares of the business services provider’s stock valued at $206,449,000 after acquiring an additional 2,412,651 shares during the last quarter. 69.85% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PAYX. Goldman Sachs Group began coverage on Paychex in a research note on Tuesday, July 14th. They issued a “sell” rating and a $64.00 price target for the company. Cowen lifted their target price on Paychex from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. Deutsche Bank cut their price target on Paychex from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, May 20th. Jefferies Financial Group lifted their price target on Paychex from $68.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Finally, BMO Capital Markets lifted their price target on Paychex from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.17.

In other news, CEO Martin Mucci sold 106,422 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $73.05, for a total transaction of $7,774,127.10. Following the sale, the chief executive officer now directly owns 419,197 shares in the company, valued at $30,622,340.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mark Anthony Bottini sold 10,942 shares of Paychex stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $73.30, for a total value of $802,048.60. Following the completion of the transaction, the vice president now directly owns 76,404 shares in the company, valued at $5,600,413.20. The disclosure for this sale can be found here. Insiders sold 616,149 shares of company stock worth $45,164,779 in the last 90 days. 11.70% of the stock is owned by company insiders.

PAYX traded up $1.29 on Tuesday, reaching $78.91. The company had a trading volume of 1,598,979 shares, compared to its average volume of 2,304,653. Paychex, Inc. has a 1 year low of $47.87 and a 1 year high of $90.54. The stock has a market capitalization of $27.94 billion, a PE ratio of 25.96, a P/E/G ratio of 3.41 and a beta of 0.92. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $74.53 and a 200-day moving average price of $71.12.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, July 7th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Paychex had a net margin of 27.18% and a return on equity of 40.76%. The firm had revenue of $915.10 million during the quarter, compared to analysts’ expectations of $910.68 million. During the same period in the previous year, the company earned $0.63 earnings per share. Paychex’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, analysts expect that Paychex, Inc. will post 2.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, July 31st. Paychex’s payout ratio is currently 82.67%.

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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