CVA Family Office LLC Grows Stock Position in Paychex, Inc. (NASDAQ:PAYX)

CVA Family Office LLC lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,388 shares of the business services provider’s stock after acquiring an additional 74 shares during the period. CVA Family Office LLC’s holdings in Paychex were worth $186,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in Paychex by 286.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Paychex by 227.6% during the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Paychex during the second quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in shares of Paychex in the 1st quarter valued at $31,000. Finally, ESL Trust Services LLC purchased a new position in Paychex in the 1st quarter worth $31,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Buying and Selling

In other Paychex news, Director David J. S. Flaschen sold 9,615 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at $676,104.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the completion of the transaction, the director now owns 5,383 shares in the company, valued at $676,104.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total value of $1,106,714.40. Following the completion of the sale, the vice president now owns 79,232 shares in the company, valued at approximately $9,793,075.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,162 shares of company stock valued at $9,846,185. 11.50% of the stock is owned by corporate insiders.

Paychex Trading Down 0.3 %

PAYX stock opened at $138.89 on Monday. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $142.04. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $50.00 billion, a P/E ratio of 29.74, a PEG ratio of 3.73 and a beta of 1.00. The company’s 50-day simple moving average is $131.59 and its 200-day simple moving average is $125.50.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.82%. Paychex’s dividend payout ratio is currently 83.94%.

Analyst Ratings Changes

Several analysts have weighed in on PAYX shares. Jefferies Financial Group boosted their price target on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays lifted their price objective on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. 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, Morgan Stanley boosted their target price on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.