Park Place Capital Corp Boosts Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Park Place Capital Corp grew its position in Paychex, Inc. (NASDAQ:PAYX) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,062 shares of the business services provider’s stock after acquiring an additional 245 shares during the quarter. Park Place Capital Corp’s holdings in Paychex were worth $411,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Shell Asset Management Co. raised its position in shares of Paychex by 511.9% in the fourth quarter. Shell Asset Management Co. now owns 12,213 shares of the business services provider’s stock valued at $1,455,000 after buying an additional 10,217 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Paychex by 4.9% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 28,489 shares of the business services provider’s stock valued at $3,393,000 after acquiring an additional 1,330 shares during the last quarter. Unigestion Holding SA lifted its stake in Paychex by 8.9% in the 4th quarter. Unigestion Holding SA now owns 13,205 shares of the business services provider’s stock worth $1,573,000 after purchasing an additional 1,079 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Paychex during the 4th quarter worth approximately $1,386,000. Finally, Ethic Inc. grew its position in shares of Paychex by 3.1% in the fourth quarter. Ethic Inc. now owns 46,088 shares of the business services provider’s stock valued at $5,490,000 after purchasing an additional 1,378 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Up 0.5 %

NASDAQ:PAYX opened at $138.16 on Wednesday. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $142.04. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $130.66 and its two-hundred day moving average is $124.97. The stock has a market capitalization of $49.73 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 3.82 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. Paychex’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. Research analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Insider Buying and Selling

In other Paychex news, CEO John B. Gibson sold 12,670 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $119.53, for a total value of $1,514,445.10. Following the completion of the transaction, the chief executive officer now owns 55,745 shares of the company’s stock, valued at $6,663,199.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director David J. S. Flaschen sold 9,615 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $125.60, for a total value of $1,207,644.00. Following the sale, the director now directly owns 5,383 shares in the company, valued at approximately $676,104.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John B. Gibson sold 12,670 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $119.53, for a total transaction of $1,514,445.10. Following the transaction, the chief executive officer now owns 55,745 shares of the company’s stock, valued at approximately $6,663,199.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,404 shares of company stock valued at $7,686,345 in the last ninety days. Company insiders own 11.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PAYX shares. TD Cowen boosted their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Citigroup raised their price target on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and a consensus price target of $130.77.

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.