Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Two Point Capital Management Inc.

Two Point Capital Management Inc. boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,774 shares of the business services provider’s stock after buying an additional 2,270 shares during the quarter. Paychex accounts for about 3.6% of Two Point Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Two Point Capital Management Inc.’s holdings in Paychex were worth $7,834,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Paychex in the 3rd quarter worth $26,000. Carmel Capital Partners LLC acquired a new stake in Paychex during the 3rd quarter worth $28,000. Larson Financial Group LLC boosted its position in shares of Paychex by 91.5% during the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Fortis Group Advisors LLC acquired a new position in shares of Paychex during the 3rd quarter valued at about $34,000. Finally, Gradient Investments LLC boosted its position in shares of Paychex by 39.8% during the 3rd quarter. Gradient Investments LLC now owns 351 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Price Performance

Shares of NASDAQ:PAYX traded down $1.89 during trading on Friday, hitting $120.08. 1,608,935 shares of the stock were exchanged, compared to its average volume of 1,805,227. The company has a fifty day moving average price of $122.01 and a two-hundred day moving average price of $120.36. The company has a market cap of $43.22 billion, a PE ratio of 26.57, a P/E/G ratio of 3.45 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 12-month low of $104.09 and a 12-month high of $129.70.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. Paychex had a return on equity of 46.14% and a net margin of 31.86%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter 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 EPS for the current year.

Paychex declared that its board has authorized a share repurchase plan on Friday, January 19th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $118.00 target price on shares of Paychex in a research report on Tuesday, March 26th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of Paychex in a research note on Wednesday, April 3rd. Bank of America upped their target price on shares of Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. TD Cowen lowered their price target on Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued 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 issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $123.00.

Insider Buying and Selling at Paychex

In related news, VP Mark Anthony Bottini sold 15,481 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $120.53, for a total value of $1,865,924.93. Following the completion of the sale, the vice president now directly owns 82,690 shares in the company, valued at approximately $9,966,625.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.