Phillips Wealth Planners LLC Makes New $285,000 Investment in Paychex, Inc. (NASDAQ:PAYX)

Phillips Wealth Planners LLC purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,002 shares of the business services provider’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYX. Capital Advisors Inc. OK boosted its position in Paychex by 11.2% during the third quarter. Capital Advisors Inc. OK now owns 272,993 shares of the business services provider’s stock worth $36,633,000 after purchasing an additional 27,551 shares during the period. Stephens Inc. AR boosted its holdings in Paychex by 5.4% in the 3rd quarter. Stephens Inc. AR now owns 108,666 shares of the business services provider’s stock worth $14,582,000 after buying an additional 5,579 shares during the period. United Asset Strategies Inc. raised its holdings in Paychex by 4.6% during the 3rd quarter. United Asset Strategies Inc. now owns 17,099 shares of the business services provider’s stock valued at $2,295,000 after acquiring an additional 747 shares during the period. Nikulski Financial Inc. lifted its position in shares of Paychex by 7.8% during the third quarter. Nikulski Financial Inc. now owns 1,935 shares of the business services provider’s stock worth $260,000 after acquiring an additional 140 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in shares of Paychex by 13.6% in the third quarter. HM Payson & Co. now owns 5,024 shares of the business services provider’s stock worth $674,000 after acquiring an additional 601 shares during the period. Institutional investors own 83.47% of the company’s stock.

Insider Activity at Paychex

In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at $674,005.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the transaction, the director now directly owns 5,383 shares in the company, valued at $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,608 shares of company stock worth $9,384,512 in the last ninety days. 11.40% of the stock is owned by company insiders.

Paychex Stock Down 0.2 %

Shares of PAYX opened at $139.09 on Friday. Paychex, Inc. has a 1 year low of $108.58 and a 1 year high of $144.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a 50 day simple moving average of $136.31 and a two-hundred day simple moving average of $127.39. The firm has a market cap of $50.06 billion, a P/E ratio of 29.66, a P/E/G ratio of 3.89 and a beta of 1.00.

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

Paychex Announces Dividend

The business also recently announced 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 2.82%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is presently 83.58%.

Analyst Ratings Changes

A number of analysts recently issued reports on PAYX shares. Barclays increased their price objective on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. TD Cowen raised their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their price target on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $130.77.

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.