Guggenheim Capital LLC reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 921,372 shares of the business services provider’s stock after selling 112,325 shares during the period. Guggenheim Capital LLC owned about 0.26% of Paychex worth $62,728,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Field & Main Bank bought a new stake in Paychex in the fourth quarter valued at approximately $101,000. Acadian Asset Management LLC bought a new stake in Paychex in the fourth quarter valued at approximately $109,000. Financial Gravity Companies Inc. bought a new stake in Paychex in the fourth quarter valued at approximately $127,000. Calton & Associates Inc. bought a new stake in Paychex in the fourth quarter valued at approximately $151,000. Finally, Bank of Nova Scotia Trust Co. bought a new stake in Paychex in the third quarter valued at approximately $188,000. Institutional investors own 68.74% of the company’s stock.
In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 31,578 shares of the company’s stock, valued at $2,156,461.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were 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 in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by insiders.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The firm had revenue of $826.50 million for the quarter, compared to analyst estimates of $823.48 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. equities research analysts anticipate that Paychex, Inc. will post 2.4 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is presently 85.84%.
PAYX has been the topic of several analyst reports. BidaskClub upgraded Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 target price on shares of Paychex in a report on Friday, December 22nd. Bank of America upped their target price on Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. BMO Capital Markets reiterated a “hold” rating and issued a $70.00 target price on shares of Paychex in a report on Wednesday, January 24th. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.77.
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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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