Ffcm LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,994 shares of the business services provider’s stock after purchasing an additional 5,151 shares during the period. Ffcm LLC’s holdings in Paychex were worth $2,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Paychex by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 984,218 shares of the business services provider’s stock valued at $56,041,000 after acquiring an additional 9,132 shares during the last quarter. Piedmont Investment Advisors LLC grew its position in Paychex by 2.7% in the second quarter. Piedmont Investment Advisors LLC now owns 32,211 shares of the business services provider’s stock valued at $1,834,000 after acquiring an additional 851 shares during the last quarter. National Asset Management Inc. grew its position in Paychex by 14.5% in the second quarter. National Asset Management Inc. now owns 5,082 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 645 shares during the last quarter. Koch Industries Inc. grew its position in Paychex by 13,529.1% in the second quarter. Koch Industries Inc. now owns 560,975 shares of the business services provider’s stock valued at $551,000 after acquiring an additional 556,859 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in Paychex by 44.1% in the second quarter. WINTON GROUP Ltd now owns 164,212 shares of the business services provider’s stock valued at $9,350,000 after acquiring an additional 50,270 shares during the last quarter. Institutional investors own 67.98% of the company’s stock.

Shares of Paychex, Inc. (NASDAQ PAYX) opened at $64.16 on Monday. Paychex, Inc. has a 12 month low of $54.20 and a 12 month high of $73.10. The company has a market capitalization of $23,045.34, a PE ratio of 27.54, a PEG ratio of 3.45 and a beta of 0.94.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.59. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The firm had revenue of $826.50 million for the quarter, compared to analyst estimates of $823.48 million. During the same period last year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. equities research analysts anticipate that Paychex, Inc. will post 2.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, January 31st. Paychex’s payout ratio is 85.84%.

A number of research firms have issued reports on PAYX. BMO Capital Markets reiterated a “hold” rating and issued a $70.00 target price on shares of Paychex in a research report on Wednesday, January 24th. BidaskClub cut Paychex from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Bank of America cut Paychex from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 target price on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.77.

In other news, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total transaction of $682,900.00. Following the sale, the vice president now directly owns 31,578 shares of the company’s stock, valued at $2,156,461.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the completion of the transaction, the insider now directly owns 63,374 shares in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

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Paychex Company Profile

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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