Measured Wealth Private Client Group LLC Acquires New Stake in Paychex, Inc. (NASDAQ:PAYX)

Measured Wealth Private Client Group LLC bought a new position in Paychex, Inc. (NASDAQ:PAYX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,648 shares of the business services provider’s stock, valued at approximately $202,000.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC bought a new stake in Paychex during the third quarter valued at approximately $34,000. Clear Investment Research LLC increased its stake in shares of Paychex by 55.8% in the 4th quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock worth $37,000 after purchasing an additional 110 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Paychex in the 4th quarter worth $40,000. Tidemark LLC bought a new position in Paychex in the 4th quarter worth $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Paychex during the fourth quarter valued at $41,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Up 1.2 %

Shares of PAYX opened at $118.38 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.37 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $129.70. The company has a market cap of $42.61 billion, a PE ratio of 25.35, a P/E/G ratio of 3.14 and a beta of 1.00. The business has a fifty day moving average of $122.29 and a 200 day moving average of $121.84.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Paychex had a return on equity of 46.63% and a net margin of 32.03%. Paychex’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. On average, sell-side analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Friday, May 10th were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from Paychex’s previous quarterly dividend of $0.89. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.31%. Paychex’s dividend payout ratio is presently 83.94%.

Wall Street Analyst Weigh In

PAYX has been the subject of a number of analyst reports. Barclays reduced their price target on Paychex from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Monday. TD Cowen lowered their target price on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Morgan Stanley cut their price target on Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of Paychex in a research report on Wednesday, April 3rd. Finally, Evercore ISI reiterated an “in-line” rating and set a $118.00 target price on shares of Paychex in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $122.46.

Insider Buying and Selling

In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $124.55, for a total value of $2,454,755.95. Following the completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.50% of the stock is currently owned by insiders.

About Paychex

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.