Chilton Investment Co. LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,801 shares of the business services provider’s stock after acquiring an additional 6,980 shares during the quarter. Chilton Investment Co. LLC’s holdings in Paychex were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYX. Field & Main Bank bought a new stake in Paychex during the 4th quarter worth approximately $101,000. Acadian Asset Management LLC bought a new stake in Paychex during the 4th quarter worth approximately $109,000. Calton & Associates Inc. bought a new stake in Paychex during the 4th quarter worth approximately $151,000. Bank of Nova Scotia Trust Co. bought a new stake in Paychex during the 3rd quarter worth approximately $188,000. Finally, Cpwm LLC bought a new stake in Paychex during the 4th quarter worth approximately $205,000. Institutional investors own 67.98% of the company’s stock.

In related news, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the sale, the insider now owns 63,374 shares in the company, valued at $4,367,102.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer R. Vossler sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total transaction of $682,900.00. Following the completion of the sale, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

PAYX has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sell” rating and set a $57.00 price objective on shares of Paychex in a research report on Wednesday, November 15th. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective on the stock in a research report on Monday, December 4th. Bank of America lifted their price objective on shares of Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. BidaskClub upgraded shares of Paychex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Paychex currently has an average rating of “Hold” and a consensus price target of $62.77.

Shares of Paychex, Inc. (NASDAQ:PAYX) opened at $64.16 on Friday. The stock has a market cap of $23,030.00, a P/E ratio of 27.54, a PEG ratio of 3.48 and a beta of 0.95. Paychex, Inc. has a 1 year low of $54.20 and a 1 year high of $73.10.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The company had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. Paychex’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts expect that Paychex, Inc. will post 2.39 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, January 31st. Paychex’s dividend payout ratio is presently 85.84%.

WARNING: This story was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.dailypolitical.com/2018/02/10/paychex-inc-payx-holdings-raised-by-chilton-investment-co-llc.html.

Paychex Company Profile

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.

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.