EP Wealth Advisors LLC Acquires 790 Shares of Paychex, Inc. (NASDAQ:PAYX)

EP Wealth Advisors LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 33,082 shares of the business services provider’s stock after acquiring an additional 790 shares during the period. EP Wealth Advisors LLC’s holdings in Paychex were worth $3,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Paychex by 286.0% in the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC grew its position in shares of Paychex by 227.6% during the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after buying an additional 173 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Paychex in the 2nd quarter valued at about $30,000. Chilton Capital Management LLC acquired a new stake in shares of Paychex in the 1st quarter valued at approximately $31,000. Finally, ESL Trust Services LLC bought a new position in Paychex during the 1st quarter worth approximately $31,000. Institutional investors own 83.47% of the company’s stock.

Insider Transactions at Paychex

In related news, VP Mark Anthony Bottini sold 8,954 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the sale, the vice president now owns 79,232 shares in the company, valued at $9,793,075.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the sale, the director now owns 5,383 shares in the company, valued at $674,005.43. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Mark Anthony Bottini sold 8,954 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the transaction, the vice president now owns 79,232 shares in the company, valued at $9,793,075.20. The disclosure for this sale can be found here. Insiders sold a total of 45,673 shares of company stock worth $5,636,085 in the last three months. Insiders own 11.50% of the company’s stock.

Paychex Stock Performance

Shares of PAYX stock opened at $134.19 on Tuesday. Paychex, Inc. has a 12 month low of $106.27 and a 12 month high of $137.40. The company’s fifty day simple moving average is $129.19 and its 200-day simple moving average is $124.34. The firm has a market cap of $48.30 billion, a PE ratio of 28.73, a P/E/G ratio of 3.54 and a beta of 1.00. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.21.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th were given a dividend of $0.98 per share. The ex-dividend date was Thursday, August 8th. This represents a $3.92 annualized dividend and a yield of 2.92%. Paychex’s dividend payout ratio (DPR) is presently 83.94%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Robert W. Baird dropped their price objective on Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a research note on Thursday, June 27th. TD Cowen raised their price target on Paychex from $121.00 to $126.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Finally, Citigroup boosted their price objective on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $125.62.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.