Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC grew its stake in Paychex, Inc. (NASDAQ:PAYX) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,816 shares of the business services provider’s stock after purchasing an additional 758 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Paychex were worth $693,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Paychex by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 29,931,007 shares of the business services provider’s stock worth $3,451,943,000 after buying an additional 170,453 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Paychex by 8.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,331,387 shares of the business services provider’s stock valued at $1,306,849,000 after acquiring an additional 927,584 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Paychex by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,797,671 shares of the business services provider’s stock worth $783,975,000 after purchasing an additional 178,316 shares during the last quarter. Northern Trust Corp boosted its holdings in Paychex by 5.8% in the third quarter. Northern Trust Corp now owns 4,481,555 shares of the business services provider’s stock worth $516,858,000 after purchasing an additional 246,791 shares during the period. Finally, Morgan Stanley increased its stake in Paychex by 5.3% during the third quarter. Morgan Stanley now owns 3,598,560 shares of the business services provider’s stock valued at $415,022,000 after purchasing an additional 182,648 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Down 1.7 %

PAYX stock opened at $118.81 on Wednesday. The company has a market capitalization of $42.77 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 3.41 and a beta of 0.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 52 week low of $104.09 and a 52 week high of $129.70. The firm’s 50-day moving average is $121.77 and its two-hundred day moving average is $120.41.

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

Paychex announced that its board has authorized a stock repurchase program on Friday, January 19th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PAYX. TD Cowen reduced their price target on shares of 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 reaffirmed an “in-line” rating and set a $118.00 target price on shares of Paychex in a report on Tuesday, March 26th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of Paychex in a research report on Wednesday, April 3rd. Bank of America upped their price objective on Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 price target on shares of Paychex in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus price target 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.