New York State Common Retirement Fund lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 944,900 shares of the business services provider’s stock after acquiring an additional 25,100 shares during the period. New York State Common Retirement Fund owned about 0.26% of Paychex worth $56,656,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Salem Investment Counselors Inc. boosted its holdings in shares of Paychex by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after purchasing an additional 11 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Paychex by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,685 shares of the business services provider’s stock worth $438,000 after purchasing an additional 20 shares during the period. Northwest Quadrant Wealth Management LLC boosted its holdings in shares of Paychex by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 3,948 shares of the business services provider’s stock worth $217,000 after purchasing an additional 25 shares during the period. Bruderman Asset Management LLC boosted its holdings in shares of Paychex by 0.6% during the second quarter. Bruderman Asset Management LLC now owns 6,834 shares of the business services provider’s stock worth $389,000 after purchasing an additional 40 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Paychex by 1.1% during the second quarter. Flagship Harbor Advisors LLC now owns 4,245 shares of the business services provider’s stock worth $248,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 68.02% of the company’s stock.

Shares of Paychex, Inc. (NASDAQ:PAYX) opened at $67.94 on Wednesday. The stock has a market cap of $24,420.00, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 3.62 and a beta of 0.99. Paychex, Inc. has a one year low of $54.20 and a one year high of $68.56.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The firm had revenue of $816.80 million during the quarter, compared to analysts’ expectations of $816.34 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. equities research analysts expect that Paychex, Inc. will post 2.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Tuesday, October 31st. Paychex’s payout ratio is 87.34%.

In other news, VP John B. Gibson sold 6,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $63.70, for a total value of $382,200.00. Following the completion of the sale, the vice president now directly owns 21,758 shares in the company, valued at $1,385,984.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin Mucci sold 29,786 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $63.17, for a total transaction of $1,881,581.62. The disclosure for this sale can be found here. Insiders sold 94,395 shares of company stock valued at $5,914,383 over the last 90 days. 11.70% of the stock is owned by corporate insiders.

Several research firms recently commented on PAYX. Wells Fargo & Company raised their price target on shares of Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, October 4th. Royal Bank Of Canada restated a “sell” rating and set a $57.00 price target on shares of Paychex in a report on Wednesday, November 15th. Bank of America raised their price target on shares of Paychex from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Citigroup restated a “sell” rating and set a $53.00 price target on shares of Paychex in a report on Monday, October 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $59.00 price target (up from $55.00) on shares of Paychex in a report on Wednesday, October 4th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. Paychex currently has an average rating of “Hold” and an average target price of $61.19.

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About Paychex

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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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