Paychex, Inc. (PAYX) Shares Bought by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,384 shares of the business services provider’s stock after buying an additional 6,108 shares during the period. Paychex comprises about 3.5% of Keystone Financial Planning Inc.’s holdings, making the stock its 12th biggest position. Keystone Financial Planning Inc.’s holdings in Paychex were worth $6,494,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Business Financial Services Inc. increased its holdings in Paychex by 16.1% during the fourth quarter. First Business Financial Services Inc. now owns 11,179 shares of the business services provider’s stock worth $761,000 after buying an additional 1,549 shares during the last quarter. Swiss National Bank increased its holdings in Paychex by 1.6% during the fourth quarter. Swiss National Bank now owns 1,882,803 shares of the business services provider’s stock worth $128,181,000 after buying an additional 29,500 shares during the last quarter. Chilton Investment Co. LLC increased its holdings in Paychex by 21.3% during the fourth quarter. Chilton Investment Co. LLC now owns 39,801 shares of the business services provider’s stock worth $2,710,000 after buying an additional 6,980 shares during the last quarter. California Public Employees Retirement System increased its holdings in Paychex by 4.2% during the fourth quarter. California Public Employees Retirement System now owns 850,877 shares of the business services provider’s stock worth $57,928,000 after buying an additional 34,491 shares during the last quarter. Finally, Rench Wealth Management Inc. increased its holdings in Paychex by 18.7% during the fourth quarter. Rench Wealth Management Inc. now owns 65,303 shares of the business services provider’s stock worth $4,446,000 after buying an additional 10,302 shares during the last quarter. Institutional investors and hedge funds own 67.98% of the company’s stock.

Paychex, Inc. (NASDAQ:PAYX) opened at $64.16 on Friday. The firm has a market cap of $22,219.22, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.32 and a beta of 0.94. Paychex, Inc. has a 1 year low of $54.20 and a 1 year high of $73.10.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $826.50 million during the quarter, compared to analyst estimates of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. equities analysts expect that Paychex, Inc. will post 2.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 31st. This represents a $2.00 dividend on an annualized basis and a yield of 3.12%. Paychex’s dividend payout ratio is presently 85.84%.

In other news, VP Jennifer R. Vossler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the completion of the transaction, the vice president now directly owns 31,578 shares in the company, valued at $2,156,461.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael E. Gioja sold 34,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the completion of the transaction, the insider now owns 63,374 shares of the company’s stock, valued at $4,367,102.34. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.

A number of analysts recently issued reports on PAYX shares. Royal Bank of Canada restated a “sell” rating and set a $57.00 price objective on shares of Paychex in a report on Wednesday, November 15th. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective for the company in a report on Monday, December 4th. Bank of America raised their price objective on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, December 5th. BidaskClub upgraded shares of Paychex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $68.00 target price on shares of Paychex in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Paychex presently has an average rating of “Hold” and an average price target of $62.77.

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About Paychex

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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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