Paychex, Inc. (NASDAQ:PAYX) Holdings Lifted by Leavell Investment Management Inc.

Leavell Investment Management Inc. raised its position in Paychex, Inc. (NASDAQ:PAYX) by 47.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,648 shares of the business services provider’s stock after purchasing an additional 1,497 shares during the quarter. Leavell Investment Management Inc.’s holdings in Paychex were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of Paychex by 286.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after buying an additional 163 shares in the last quarter. ORG Partners LLC raised its holdings in Paychex by 227.6% during the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. ESL Trust Services LLC bought a new stake in Paychex during the first quarter worth approximately $31,000. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares in the last quarter. Finally, American National Bank increased its position in shares of Paychex by 166.7% during the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 180 shares during the period. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Citigroup increased their target price on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada lifted their price target on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Transactions at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction 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 transaction, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,174 shares of company stock worth $7,577,231. 11.40% of the stock is owned by insiders.

Paychex Stock Up 1.4 %

PAYX opened at $148.57 on Monday. The company has a market capitalization of $53.47 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. Paychex, Inc. has a fifty-two week low of $113.70 and a fifty-two week high of $149.26. The business has a 50-day moving average of $137.75 and a 200-day moving average of $128.30.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Paychex’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, November 7th. Paychex’s payout ratio is 83.58%.

Paychex 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.