Headlands Technologies LLC Has $98,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Headlands Technologies LLC reduced its holdings in Paychex, Inc. (NASDAQ:PAYXFree Report) by 94.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 849 shares of the business services provider’s stock after selling 13,620 shares during the period. Headlands Technologies LLC’s holdings in Paychex were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc increased its stake in shares of Paychex by 0.8% during the 2nd quarter. Pinnacle Financial Partners Inc now owns 10,277 shares of the business services provider’s stock worth $1,150,000 after purchasing an additional 82 shares during the last quarter. V Wealth Advisors LLC increased its stake in shares of Paychex by 1.0% during the 2nd quarter. V Wealth Advisors LLC now owns 8,635 shares of the business services provider’s stock worth $966,000 after purchasing an additional 84 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its stake in shares of Paychex by 0.6% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 15,425 shares of the business services provider’s stock worth $1,779,000 after purchasing an additional 86 shares during the last quarter. Haverford Trust Co increased its stake in shares of Paychex by 1.8% during the 2nd quarter. Haverford Trust Co now owns 5,033 shares of the business services provider’s stock worth $563,000 after purchasing an additional 87 shares during the last quarter. Finally, Roman Butler Fullerton & Co. increased its stake in shares of Paychex by 2.3% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 4,003 shares of the business services provider’s stock worth $472,000 after purchasing an additional 91 shares during the last quarter. 72.18% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Performance

Shares of Paychex stock opened at $123.03 on Monday. The company has a 50 day moving average of $121.81 and a 200-day moving average of $119.68. Paychex, Inc. has a 1-year low of $104.09 and a 1-year high of $129.70. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.23. The company has a market cap of $44.27 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 3.32 and a beta of 0.95.

Paychex (NASDAQ:PAYXGet Free Report) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Paychex had a net margin of 31.62% and a return on equity of 46.37%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Paychex, Inc. will post 4.72 earnings per share for the current fiscal year.

Paychex declared that its Board of Directors has initiated a stock buyback plan on Friday, January 19th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, February 12th. Paychex’s dividend payout ratio (DPR) is presently 79.11%.

Insider Buying and Selling

In related news, VP Mark Anthony Bottini sold 15,481 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the completion of the transaction, the vice president now directly owns 82,690 shares in the company, valued at approximately $9,966,625.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director David J. S. Flaschen sold 16,031 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $119.79, for a total transaction of $1,920,353.49. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $644,829.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark Anthony Bottini sold 15,481 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the transaction, the vice president now owns 82,690 shares of the company’s stock, valued at $9,966,625.70. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PAYX. Barclays lowered their price objective on shares of Paychex from $126.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, December 22nd. UBS Group initiated coverage on shares of Paychex in a report on Tuesday, November 7th. They set a “neutral” rating and a $120.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $130.00 target price on shares of Paychex in a report on Friday, December 22nd. Stifel Nicolaus lifted their target price on shares of Paychex from $124.00 to $130.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Finally, TD Cowen reaffirmed a “market perform” rating and set a $123.00 target price (down previously from $132.00) on shares of Paychex in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.17.

Read Our Latest Report on PAYX

Paychex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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