Bontempo Ohly Capital Mgmt LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,007 shares of the business services provider’s stock, valued at approximately $4,229,000. Paychex makes up about 1.8% of Bontempo Ohly Capital Mgmt LLC’s holdings, making the stock its 16th largest position.
A number of other institutional investors also recently bought and sold shares of PAYX. Windsor Advisory Group LLC acquired a new position in shares of Paychex during the 2nd quarter worth about $20,855,000. Freestone Grove Partners LP purchased a new position in shares of Paychex in the 2nd quarter valued at about $13,807,000. Man Group plc acquired a new stake in shares of Paychex during the 2nd quarter worth about $406,000. Western Wealth Management LLC acquired a new stake in shares of Paychex during the 2nd quarter worth about $1,213,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in Paychex during the second quarter worth approximately $216,000. 83.47% of the stock is owned by hedge funds and other institutional investors.
Paychex Stock Down 0.1%
Paychex stock opened at $124.88 on Thursday. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $139.53. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $44.42 billion, a P/E ratio of 25.54 and a beta of 0.81. The stock has a 50-day simple moving average of $112.62 and a 200-day simple moving average of $100.57.
Paychex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio is presently 97.34%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on PAYX shares. TD Cowen upped their price target on Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a report on Monday, June 8th. UBS Group raised their price objective on shares of Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.20.
Read Our Latest Report on PAYX
Insider Buying and Selling
In related news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the sale, the director owned 67,364 shares in the company, valued at $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.
About Paychex
Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.
Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.
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