Paychex, Inc. (NASDAQ:PAYX) Stock Position Raised by Two Point Capital Management Inc.

Two Point Capital Management Inc. boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,764 shares of the business services provider’s stock after acquiring an additional 665 shares during the period. Paychex comprises about 3.5% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Two Point Capital Management Inc.’s holdings in Paychex were worth $9,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in shares of Paychex in the 1st quarter worth about $231,000. Larson Financial Group LLC boosted its position in shares of Paychex by 201.7% during the first quarter. Larson Financial Group LLC now owns 528 shares of the business services provider’s stock worth $65,000 after buying an additional 353 shares during the period. Geneos Wealth Management Inc. grew its holdings in Paychex by 3.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock worth $312,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC increased its position in Paychex by 3.1% in the 1st quarter. Advisory Services Network LLC now owns 30,020 shares of the business services provider’s stock valued at $3,686,000 after acquiring an additional 900 shares during the period. Finally, Empirical Finance LLC raised its stake in Paychex by 3.5% during the 1st quarter. Empirical Finance LLC now owns 11,577 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 396 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the transaction, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated 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 directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the sale, the vice president now owns 14,515 shares of the company’s stock, valued at $2,018,020.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,174 shares of company stock worth $7,577,231 over the last 90 days. 11.40% of the stock is owned by company insiders.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $148.59 on Thursday. The company has a market capitalization of $53.48 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.84 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a fifty day moving average of $137.06 and a 200-day moving average of $127.93. Paychex, Inc. has a one year low of $110.82 and a one year high of $149.26.

Paychex (NASDAQ:PAYX) last announced 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 business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. Paychex’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, equities analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is currently 83.58%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada increased their price target on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 2nd. UBS Group increased their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays boosted their price target on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Jefferies Financial Group increased their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, TD Cowen boosted their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus 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.