Paychex, Inc. (PAYX) Shares Bought by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI raised its position in Paychex, Inc. (NASDAQ:PAYX) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,715 shares of the company’s stock after buying an additional 7,153 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Paychex were worth $2,722,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of PAYX. Zions Bancorporation raised its stake in shares of Paychex by 683.0% in the second quarter. Zions Bancorporation now owns 1,754 shares of the company’s stock worth $105,000 after buying an additional 1,530 shares during the last quarter. Motco raised its stake in Paychex by 17.4% in the third quarter. Motco now owns 1,861 shares of the company’s stock valued at $108,000 after buying an additional 276 shares in the last quarter. Financial Architects Inc raised its stake in Paychex by 4.1% in the third quarter. Financial Architects Inc now owns 1,914 shares of the company’s stock valued at $111,000 after buying an additional 76 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in Paychex by 4.2% in the third quarter. Ropes Wealth Advisors LLC now owns 1,921 shares of the company’s stock valued at $111,000 after buying an additional 78 shares in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC raised its stake in Paychex by 4.6% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,068 shares of the company’s stock valued at $120,000 after buying an additional 90 shares in the last quarter. 69.28% of the stock is owned by institutional investors and hedge funds.
Shares of Paychex, Inc. (NASDAQ:PAYX) opened at 59.49 on Friday. The firm has a market capitalization of $21.35 billion, a PE ratio of 27.67 and a beta of 0.86. Paychex, Inc. has a 52 week low of $50.45 and a 52 week high of $62.18. The firm’s 50-day moving average is $60.21 and its 200 day moving average is $58.86.
Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, December 21st. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $778.99 million. Paychex had a net margin of 25.40% and a return on equity of 41.00%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts forecast that Paychex, Inc. will post $2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st were paid a $0.46 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.84 annualized dividend and a yield of 3.09%. Paychex’s dividend payout ratio is currently 85.58%.
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PAYX has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Paychex from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Friday, December 16th. Compass Point lifted their price objective on shares of Paychex from $45.00 to $48.00 and gave the stock a “sell” rating in a research report on Thursday, December 22nd. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $61.00 price objective (up previously from $57.00) on shares of Paychex in a research report on Friday, December 23rd. Barclays PLC initiated coverage on shares of Paychex in a research report on Tuesday, December 20th. They issued an “equal weight” rating and a $63.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their price objective on shares of Paychex from $53.00 to $54.00 and gave the stock an “underperform” rating in a research report on Thursday, December 22nd. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.00.
In other Paychex news, Director Pamela A. Joseph sold 18,500 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $61.20, for a total value of $1,132,200.00. Following the transaction, the director now directly owns 25,791 shares in the company, valued at $1,578,409.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael E. Gioja sold 24,726 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $60.72, for a total transaction of $1,501,362.72. Following the completion of the transaction, the insider now owns 55,984 shares in the company, valued at $3,399,348.48. The disclosure for this sale can be found here. Insiders sold 70,202 shares of company stock worth $4,290,754 over the last quarter. 11.60% of the stock is currently owned by 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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