Elkhorn Investments LLC cut its holdings in Paychex, Inc. (NASDAQ:PAYX) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,510 shares of the business services provider’s stock after selling 2,151 shares during the quarter. Elkhorn Investments LLC’s holdings in Paychex were worth $1,150,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Field & Main Bank purchased a new stake in shares of Paychex in the fourth quarter valued at approximately $101,000. Acadian Asset Management LLC purchased a new stake in shares of Paychex in the fourth quarter valued at approximately $109,000. Financial Gravity Companies Inc. purchased a new stake in shares of Paychex in the fourth quarter valued at approximately $127,000. Avestar Capital LLC purchased a new stake in shares of Paychex in the fourth quarter valued at approximately $126,000. Finally, Calton & Associates Inc. purchased a new stake in shares of Paychex in the fourth quarter valued at approximately $151,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
In other news, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the completion of the transaction, the insider now directly owns 63,374 shares of the company’s stock, valued at $4,367,102.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total value of $682,900.00. Following the completion of the transaction, the vice president now directly owns 31,578 shares of the company’s stock, valued at $2,156,461.62. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.
Paychex, Inc. (NASDAQ PAYX) traded down $0.43 on Wednesday, reaching $66.29. The company’s stock had a trading volume of 48,573 shares, compared to its average volume of 2,213,949. The stock has a market capitalization of $23,885.84, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 3.55 and a beta of 0.96. Paychex, Inc. has a one year low of $54.20 and a one year high of $73.10.
Paychex (NASDAQ:PAYX) last posted its earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.59. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The company had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. During the same period in the previous year, the business earned $0.56 earnings per share. Paychex’s quarterly revenue was up 7.1% compared to the same quarter last year. research analysts predict that Paychex, Inc. will post 2.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. Paychex’s dividend payout ratio (DPR) is 85.84%.
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Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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