Csenge Advisory Group Sells 483 Shares of Paychex, Inc. (NASDAQ:PAYX)

Csenge Advisory Group reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,453 shares of the business services provider’s stock after selling 483 shares during the quarter. Csenge Advisory Group’s holdings in Paychex were worth $1,038,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Fortis Group Advisors LLC acquired a new position in shares of Paychex in the third quarter valued at about $34,000. Clear Investment Research LLC increased its holdings in shares of Paychex by 55.8% during the fourth 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 during the period. Tidemark LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $40,000. Criterion Capital Advisors LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Paychex in the fourth quarter valued at approximately $41,000. 83.47% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Martin Mucci sold 101,490 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $117.27, for a total value of $11,901,732.30. Following the completion of the sale, the chairman now directly owns 437,345 shares in the company, valued at $51,287,448.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Martin Mucci sold 101,490 shares of Paychex stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $117.27, for a total value of $11,901,732.30. Following the transaction, the chairman now directly owns 437,345 shares of the company’s stock, valued at $51,287,448.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David J. S. Flaschen sold 19,709 shares of the company’s stock in a transaction that occurred on 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 owns 5,383 shares in the company, valued at $670,452.65. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Evercore ISI reaffirmed an “in-line” rating and set a $118.00 price objective on shares of Paychex in a research report on Tuesday, March 26th. Robert W. Baird decreased their target price on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Bank of America boosted their target price on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, June 27th. Finally, Barclays reduced their price target on shares of Paychex from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $122.46.

Paychex Trading Up 0.1 %

Shares of PAYX stock opened at $117.06 on Friday. Paychex, Inc. has a twelve month low of $106.27 and a twelve month high of $129.70. The stock’s fifty day simple moving average is $121.78 and its 200 day simple moving average is $121.45. The company has a quick ratio of 1.24, a current ratio of 1.37 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $42.14 billion, a P/E ratio of 25.07, a P/E/G ratio of 3.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. As a group, sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Thursday, August 8th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, August 8th. Paychex’s dividend payout ratio (DPR) is currently 83.94%.

Paychex Company 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.