Dynamic Capital Management Ltd Sells 2,622 Shares of Paychex, Inc. (PAYX)

Dynamic Capital Management Ltd trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 21.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,397 shares of the business services provider’s stock after selling 2,622 shares during the period. Dynamic Capital Management Ltd’s holdings in Paychex were worth $640,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Field & Main Bank bought a new stake in Paychex in the fourth quarter worth approximately $101,000. Acadian Asset Management LLC bought a new stake in Paychex in the fourth quarter worth approximately $109,000. Financial Gravity Companies Inc. bought a new stake in Paychex in the fourth quarter worth approximately $127,000. Calton & Associates Inc. bought a new stake in Paychex in the fourth quarter worth approximately $151,000. Finally, Bank of Nova Scotia Trust Co. bought a new stake in Paychex in the third quarter worth approximately $188,000. 67.94% of the stock is owned by institutional investors.

How to Become a New Pot Stock Millionaire

Shares of Paychex, Inc. (PAYX) opened at $66.52 on Friday. Paychex, Inc. has a 1-year low of $54.20 and a 1-year high of $73.10. The firm has a market cap of $23,720.00, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.46 and a beta of 0.96.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The firm had revenue of $826.50 million during the quarter, compared to the consensus estimate of $823.48 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue was up 7.1% on a year-over-year basis. equities analysts anticipate that Paychex, Inc. will post 2.4 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is presently 85.84%.

In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 31,578 shares of the company’s stock, valued at approximately $2,156,461.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of the stock in a transaction 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 sale, the insider now directly 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 corporate insiders.

Several research firms recently issued reports on PAYX. Royal Bank of Canada reaffirmed a “sell” rating and set a $57.00 price objective on shares of Paychex in a report on Wednesday, November 15th. Citigroup raised 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 upped 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 raised shares of Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 price objective on shares of Paychex in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $62.77.

ILLEGAL ACTIVITY NOTICE: “Dynamic Capital Management Ltd Sells 2,622 Shares of Paychex, Inc. (PAYX)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2018/03/10/dynamic-capital-management-ltd-sells-2622-shares-of-paychex-inc-payx.html.

Paychex Profile

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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply