Jmac Enterprises LLC Grows Stake in Paychex, Inc. (NASDAQ:PAYX)

Jmac Enterprises LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the business services provider’s stock after buying an additional 100 shares during the period. Jmac Enterprises LLC’s holdings in Paychex were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAYX. Capital International Investors lifted its stake in shares of Paychex by 12.8% in the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after purchasing an additional 2,373,894 shares during the period. Capital World Investors boosted its holdings in shares of Paychex by 155.6% during the 1st quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after buying an additional 1,508,681 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after buying an additional 797,843 shares during the period. TD Asset Management Inc increased its stake in shares of Paychex by 57.2% in the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after acquiring an additional 793,468 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in Paychex by 30.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,676,521 shares of the business services provider’s stock valued at $205,877,000 after acquiring an additional 395,343 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Paychex

In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was 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 directly owns 14,515 shares in the company, valued at $2,018,020.45. This represents 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. In other news, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was 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 in the company, valued at approximately $2,018,020.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction that occurred 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 directly owns 17,362 shares in the company, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,174 shares of company stock worth $7,577,231 in the last ninety days. Insiders own 11.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Barclays lifted their price target on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their target price on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. UBS Group increased their price objective on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $130.77.

Paychex Stock Performance

Shares of Paychex stock opened at $148.03 on Thursday. The stock has a market capitalization of $53.28 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.84 and a beta of 0.99. The firm’s fifty day simple moving average is $137.06 and its 200-day simple moving average is $127.93. 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 12 month low of $112.34 and a 12 month high of $149.26.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. Paychex’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, equities analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.65%. Paychex’s dividend payout ratio (DPR) is presently 83.58%.

About Paychex

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.