NN Investment Partners Holdings N.V. increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 199.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,471 shares of the business services provider’s stock after buying an additional 12,970 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Paychex were worth $1,147,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of PAYX. Iberiabank Corp increased its position in Paychex by 7.4% in the fourth quarter. Iberiabank Corp now owns 92,625 shares of the business services provider’s stock worth $5,639,000 after buying an additional 6,402 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Paychex by 0.8% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 641,485 shares of the business services provider’s stock worth $39,054,000 after buying an additional 4,965 shares in the last quarter. Amtrust Financial Services Inc. acquired a new position in Paychex during the fourth quarter worth about $1,260,000. Baird Financial Group Inc. increased its position in Paychex by 20.9% in the fourth quarter. Baird Financial Group Inc. now owns 452,753 shares of the business services provider’s stock worth $27,564,000 after buying an additional 78,170 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its position in Paychex by 7.1% in the first quarter. Franklin Street Advisors Inc. NC now owns 99,336 shares of the business services provider’s stock worth $5,851,000 after buying an additional 6,623 shares in the last quarter. Institutional investors and hedge funds own 68.46% of the company’s stock.
Shares of Paychex, Inc. (NASDAQ:PAYX) opened at 56.60 on Wednesday. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.03. The stock’s 50 day moving average is $58.87 and its 200-day moving average is $59.90. The stock has a market cap of $20.34 billion, a PE ratio of 25.16 and a beta of 0.96.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Paychex had a net margin of 25.93% and a return on equity of 42.65%. The firm had revenue of $799 million during the quarter, compared to analysts’ expectations of $797.70 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts predict that Paychex, Inc. will post $2.37 EPS for the current fiscal year.
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PAYX has been the subject of a number of research reports. Jefferies Group LLC restated a “sell” rating and set a $50.00 target price on shares of Paychex in a research report on Tuesday, March 21st. Wedbush restated a “neutral” rating and set a $61.25 target price (down from $65.00) on shares of Paychex in a research report on Tuesday, June 6th. BMO Capital Markets decreased their price objective on shares of Paychex from $61.00 to $60.00 and set a “market perform” rating for the company in a research report on Thursday, March 30th. Goldman Sachs Group, Inc. (The) downgraded shares of Paychex from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $64.00 in a research report on Tuesday, June 20th. Finally, Morgan Stanley decreased their price objective on shares of Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, June 30th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.16.
In other Paychex news, VP Laurie L. Zaucha sold 2,884 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $57.39, for a total transaction of $165,512.76. Following the completion of the transaction, the vice president now directly owns 32,906 shares in the company, valued at approximately $1,888,475.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph M. Velli sold 9,000 shares of the firm’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $58.29, for a total transaction of $524,610.00. Following the transaction, the director now owns 30,624 shares of the company’s stock, valued at $1,785,072.96. The disclosure for this sale can be found here. Insiders sold 127,151 shares of company stock valued at $7,417,518 in the last quarter. Company insiders own 11.60% of the company’s stock.
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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