Windsor Advisory Group LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 212,096 shares of the business services provider’s stock, valued at approximately $20,855,000. Paychex comprises about 15.1% of Windsor Advisory Group LLC’s portfolio, making the stock its 2nd biggest position. Windsor Advisory Group LLC owned about 0.06% of Paychex as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PAYX. Hilton Head Capital Partners LLC acquired a new position in Paychex in the fourth quarter valued at about $31,000. Cornerstone Planning Group LLC grew its position in shares of Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after buying an additional 268 shares during the period. Kingdom Financial Group LLC. acquired a new position in shares of Paychex during the 4th quarter worth about $33,000. Acumen Wealth Advisors LLC bought a new stake in shares of Paychex in the 4th quarter valued at about $34,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Paychex in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
Paychex Stock Down 0.1%
PAYX stock opened at $124.88 on Thursday. The company has a market cap of $44.42 billion, a price-to-earnings ratio of 25.54 and a beta of 0.81. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $139.53. The business has a 50 day moving average price of $112.62 and a two-hundred day moving average price of $100.57. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.
Paychex Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio is 97.34%.
Analyst Upgrades and Downgrades
PAYX has been the topic of several recent analyst reports. TD Cowen lifted their price objective on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. Citigroup upped their target price on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, June 25th. Jefferies Financial Group increased their target price on shares of Paychex from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their price target on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Paychex currently has an average rating of “Hold” and a consensus target price of $109.20.
Get Our Latest Stock Analysis on Paychex
Insiders Place Their Bets
In other Paychex news, 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 value of $299,234.00. Following the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares in the company, valued at $6,618,513. The trade was a 5.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.80% of the company’s stock.
Paychex Profile
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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