AE Wealth Management LLC holds $2.83 million in Paychex, Inc. (NASDAQ:PAYX)

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AE Wealth Management LLC reduced its holdings of Paychex, Inc. stock (NASDAQ: PAYXGet a rating) by 6.4% in the first quarter, HoldingsChannel reports. The institutional investor held 20,761 shares of the business services provider after selling 1,418 shares during the period. AE Wealth Management LLC’s holdings in Paychex were worth $2,833,000 when it last filed with the SEC.

Several other institutional investors also bought and sold shares of the company. American National Bank increased its stake in Paychex shares by 31.4% during the 1st quarter. American National Bank now owns 310 shares of the business services provider worth $42,000 after buying 74 more shares in the last quarter. Boenning & Scattergood Inc. increased its stake in Paychex by 1.2% in Q1. Boenning & Scattergood Inc. now owns 6,395 shares of the business services provider valued at $873,000 after buying 74 additional shares in the last quarter. TRU Independence Asset Management 2 LLC increased its stake in Paychex by 0.3% in Q4. TRU Independence Asset Management 2 LLC now owns 27,986 shares of the business services provider valued at $3,820,000 after buying 83 additional shares in the last quarter. Lantz Financial LLC increased its stake in Paychex by 0.4% in Q4. Lantz Financial LLC now owns 20,424 shares of the business services provider valued at $2,788,000 after buying 84 additional shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Paychex by 10.3% in the 4th quarter. Simon Quick Advisors LLC now owns 900 shares of the business services provider valued at $123,000 after buying an additional 84 shares in the last quarter. Institutional investors hold 80.43% of the company’s shares.

Several equity research analysts have recently released reports on PAYX shares. Morgan Stanley cut its target price on Paychex shares from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays cut its target price on Paychex shares from $140.00 to $127.00 and set an “equal weight” rating for the company in a research note on Thursday. Cowen cut his price target on Paychex shares from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday. Cowen cut his price target on Paychex shares from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday. To finish, StockNews.com began covering Paychex shares in a research report on Thursday, March 31. They set a “holding” rating for the company. One analyst rated the stock with a sell rating, ten gave the stock a hold rating, and three gave the stock a buy rating. Based on data from MarketBeat.com, Paychex has a consensus rating of “Hold” and an average target price of $130.77.

Shares of PAYX opened at $116.36 on Friday. Paychex, Inc. has a 12-month low of $106.55 and a 12-month high of $141.92. The company’s 50-day moving average is $121.44 and its 200-day moving average is $124.75. The stock has a market capitalization of $42.01 billion, a PE ratio of 31.03, a P/E/G ratio of 4.01 and a beta of 0.98. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt ratio of 0.24.

paycheck (NASDAQ: PAYXGet a rating) last announced its results on Wednesday, June 29. The business services provider reported EPS of $0.81 for the quarter, beating the consensus estimate of $0.79 by $0.02. The company posted revenue of $1.13 billion for the quarter, versus $1.11 billion for analysts. Paychex had a net margin of 30.23% and a return on equity of 43.02%. The company’s revenue for the quarter increased 9.7% year over year. During the same period last year, the company earned earnings per share of $0.72. Equity research analysts expect Paychex, Inc. to post 3.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 26. Investors of record on Thursday, May 12 received a dividend of $0.79. This represents a dividend of $3.16 on an annualized basis and a yield of 2.72%. This is a boost from Paychex’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, May 11. Paychex’s dividend payout ratio (DPR) is 84.27%.

In other Paychex news, Vice President Karen E. Saunders-Mcclendon sold 203 shares of the company in a trade on Friday, April 15. The shares were sold at an average price of $136.69, for a total transaction of $27,748.07. Following the sale, the vice president now owns 2,994 shares of the company, valued at $409,249.86. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, Vice President Michael E. Gioja sold 26,000 shares of the company in a trade on Tuesday, April 5. The stock was sold at an average price of $141.26, for a total transaction of $3,672,760.00. Following the sale, the vice president now directly owns 52,349 shares of the company, valued at approximately $7,394,819.74. Disclosure of this sale can be found here. Insiders of the company hold 11.50% of the shares of the company.

About Paychex (Get a rating)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small and medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new hire reporting and garnishment processing.

See also

Want to see which other hedge funds hold PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ: PAYXGet a rating).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)



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