Oarsman Capital Inc. Sells 100 Shares of Paychex, Inc. (NASDAQ:PAYX)

Oarsman Capital Inc. cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,650 shares of the business services provider’s stock after selling 100 shares during the period. Oarsman Capital Inc.’s holdings in Paychex were worth $296,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. NewSquare Capital LLC boosted its holdings in shares of Paychex by 91.7% during the 2nd quarter. NewSquare Capital LLC now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 122 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Paychex by 80.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 275 shares of the business services provider’s stock worth $31,000 after buying an additional 123 shares in the last quarter. Atlantic Private Wealth LLC bought a new position in shares of Paychex during the 1st quarter worth approximately $36,000. Cambridge Trust Co. boosted its holdings in shares of Paychex by 254.4% during the 1st quarter. Cambridge Trust Co. now owns 319 shares of the business services provider’s stock worth $37,000 after buying an additional 229 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in shares of Paychex by 110.1% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the business services provider’s stock worth $37,000 after buying an additional 174 shares in the last quarter. 72.18% of the stock is currently owned by institutional investors.

Insider Transactions at Paychex

In other news, VP Michael E. Gioja sold 41,329 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $115.79, for a total transaction of $4,785,484.91. Following the completion of the transaction, the vice president now owns 19,800 shares in the company, valued at approximately $2,292,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.50% of the stock is owned by corporate insiders.

Paychex Stock Performance

Shares of Paychex stock traded up $1.03 during trading hours on Friday, hitting $117.52. 1,275,488 shares of the company’s stock traded hands, compared to its average volume of 1,905,659. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.16 and a beta of 0.97. Paychex, Inc. has a 12-month low of $104.09 and a 12-month high of $129.70. The company has a fifty day simple moving average of $115.46 and a 200-day simple moving average of $115.80.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, September 27th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Paychex had a return on equity of 46.51% and a net margin of 31.40%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Equities research analysts anticipate that Paychex, Inc. will post 4.7 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $3.56 annualized dividend and a dividend yield of 3.03%. Paychex’s payout ratio is 80.73%.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of research reports. Argus upped their target price on Paychex from $125.00 to $130.00 in a research report on Tuesday, October 3rd. UBS Group initiated coverage on Paychex in a research report on Tuesday, November 7th. They set a “neutral” rating and a $120.00 target price on the stock. Bank of America upped their target price on Paychex from $103.00 to $106.00 and gave the stock an “underperform” rating in a research report on Thursday, September 28th. TD Cowen upped their target price on Paychex from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Finally, StockNews.com initiated coverage on Paychex in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus price target of $121.63.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.