Turtle Creek Wealth Advisors LLC Invests $41,000 in Paychex, Inc. (NASDAQ:PAYX)

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, Holdings Channel reports. The fund acquired 342 shares of the business services provider’s stock, valued at approximately $41,000.

Several other large investors have also made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in Paychex in the second quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Paychex during the third quarter worth approximately $26,000. Carmel Capital Partners LLC bought a new position in shares of Paychex in the third quarter valued at $28,000. Larson Financial Group LLC increased its holdings in shares of Paychex by 91.5% in the third quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock valued at $31,000 after buying an additional 130 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. bought a new position in shares of Paychex in the third quarter valued at $33,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paychex

In related news, VP Mark Anthony Bottini sold 15,481 shares of the stock in a transaction 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 transaction, the vice president now directly owns 82,690 shares of the company’s stock, valued at $9,966,625.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PAYX. TD Cowen lowered their price objective on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Bank of America boosted their price target on shares of Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a report on Wednesday, April 3rd. Barclays decreased their price objective on shares of Paychex from $126.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, December 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Paychex from $134.00 to $126.00 and set an “underweight” rating for the company in a report on Friday, December 22nd. Finally, Evercore ISI reiterated an “in-line” rating and issued a $118.00 price objective on shares of Paychex in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.00.

Paychex Stock Down 0.2 %

Shares of PAYX opened at $124.24 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $44.72 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.93. Paychex, Inc. has a 52 week low of $104.09 and a 52 week high of $129.70. The firm’s 50-day simple moving average is $122.21 and its 200 day simple moving average is $119.95.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.01. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that Paychex, Inc. will post 4.71 earnings per share for the current year.

Paychex declared that its board has authorized a share repurchase plan on Friday, January 19th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.87%. The ex-dividend date was Monday, February 12th. Paychex’s payout ratio is 77.56%.

About Paychex

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.