Tokio Marine Asset Management Co. Ltd. Purchases 903 Shares of Paychex Inc. (PAYX)
Tokio Marine Asset Management Co. Ltd. raised its position in shares of Paychex Inc. (NASDAQ:PAYX) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,738 shares of the company’s stock after buying an additional 903 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Paychex were worth $520,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAYX. Virginia Retirement System acquired a new position in Paychex during the first quarter worth about $284,000. TIAA CREF Investment Management LLC boosted its stake in shares of Paychex by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,327,620 shares of the company’s stock worth $71,705,000 after buying an additional 166,885 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Paychex by 16.6% in the first quarter. Teachers Advisors Inc. now owns 386,988 shares of the company’s stock worth $20,901,000 after buying an additional 55,144 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Paychex by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,183,027 shares of the company’s stock worth $495,975,000 after buying an additional 137,147 shares during the period. Finally, Columbia Partners L L C Investment Management boosted its stake in Paychex by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 16,368 shares of the company’s stock worth $884,000 after buying an additional 996 shares during the last quarter. Institutional investors own 69.31% of the company’s stock.
Paychex Inc. (NASDAQ:PAYX) traded down 0.39% on Friday, reaching $56.52. The company’s stock had a trading volume of 1,724,272 shares. The firm has a market cap of $20.44 billion, a PE ratio of 26.79 and a beta of 0.87. Paychex Inc. has a 52-week low of $45.76 and a 52-week high of $61.87. The stock’s 50 day moving average price is $59.41 and its 200 day moving average price is $56.63.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Paychex had a return on equity of 40.10% and a net margin of 25.38%. The business had revenue of $785.50 million for the quarter, compared to analysts’ expectations of $782.80 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Paychex Inc. will post $2.22 earnings per share for the current fiscal year.
PAYX has been the subject of a number of research reports. Jefferies Group reissued an “underperform” rating and set a $40.00 target price on shares of Paychex in a research note on Tuesday, July 5th. Zacks Investment Research cut shares of Paychex from a “hold” rating to a “sell” rating in a research note on Wednesday, August 31st. Wedbush began coverage on shares of Paychex in a research note on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $49.00 price target on shares of Paychex in a research note on Tuesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $56.00 price target (up from $51.00) on shares of Paychex in a research note on Wednesday, July 6th. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.00.
In other Paychex news, VP Jennifer R. Vossler sold 12,000 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $61.05, for a total value of $732,600.00. Following the transaction, the vice president now owns 41,359 shares of the company’s stock, valued at $2,524,966.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Doody sold 44,441 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $60.51, for a total value of $2,689,124.91. Following the completion of the transaction, the director now directly owns 19,158 shares in the company, valued at approximately $1,159,250.58. The disclosure for this sale can be found here. 11.60% of the stock is owned by company insiders.
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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