Aprio Wealth Management LLC Buys Shares of 1,682 Paychex, Inc. (NASDAQ:PAYX)

Aprio Wealth Management LLC purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,682 shares of the business services provider’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its holdings in Paychex by 0.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after acquiring an additional 82 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Paychex by 1.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock worth $873,000 after purchasing an additional 85 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Paychex by 3.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 92 shares during the period. Rockland Trust Co. raised its position in Paychex by 1.1% during the 1st quarter. Rockland Trust Co. now owns 9,074 shares of the business services provider’s stock worth $1,114,000 after purchasing an additional 98 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its holdings in Paychex by 3.2% during the 1st quarter. KCM Investment Advisors LLC now owns 3,190 shares of the business services provider’s stock worth $392,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of Paychex stock opened at $138.16 on Wednesday. The business has a 50-day simple moving average of $130.66 and a 200 day simple moving average of $124.97. The firm has a market capitalization of $49.73 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 3.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.37. Paychex, Inc. has a one year low of $106.27 and a one year high of $142.04.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Paychex’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PAYX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price target on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America boosted their target price on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group lifted their price objective on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat, Paychex presently has a consensus rating of “Hold” and an average price target of $130.77.

Insider Buying and Selling at Paychex

In other news, VP Mark Anthony Bottini sold 8,954 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the sale, the vice president now directly owns 79,232 shares of the company’s stock, valued at $9,793,075.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the transaction, the vice president now owns 14,515 shares in the company, valued at $2,020,197.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total value of $1,106,714.40. Following the transaction, the vice president now directly owns 79,232 shares in the company, valued at approximately $9,793,075.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,404 shares of company stock valued at $7,686,345. Corporate insiders own 11.50% of the company’s stock.

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.