Graypoint LLC Has $621,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Graypoint LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,428 shares of the business services provider’s stock after buying an additional 100 shares during the period. Graypoint LLC’s holdings in Paychex were worth $621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Paychex by 38,655.2% in the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock valued at $107,340,000 after acquiring an additional 797,843 shares during the period. Barclays PLC boosted its holdings in Paychex by 46.2% during the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after purchasing an additional 552,540 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Paychex by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after purchasing an additional 384,184 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Paychex by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after buying an additional 345,682 shares in the last quarter. Finally, Unigestion Holding SA lifted its position in shares of Paychex by 2,139.2% during the 3rd quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock worth $39,667,000 after buying an additional 282,487 shares during the period. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PAYX shares. Jefferies Financial Group increased their price objective on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Citigroup lifted their price target on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. TD Cowen raised their price objective on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. UBS Group boosted their target price on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $132.23.

Insider Buying and Selling at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 42.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.40% of the company’s stock.

Paychex Stock Performance

Paychex stock opened at $139.06 on Friday. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $150.71. The company’s 50-day moving average is $142.35 and its two-hundred day moving average is $134.39. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $50.07 billion, a PE ratio of 29.65, a PEG ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Equities analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.82%. Paychex’s dividend payout ratio is presently 82.53%.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.