Paragon Capital Management LLC Decreases Holdings in Paychex, Inc. (PAYX)
Paragon Capital Management LLC reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.2% during the 1st quarter, Holdings Channel reports. The firm owned 123,019 shares of the business services provider’s stock after selling 4,095 shares during the quarter. Paychex accounts for 4.7% of Paragon Capital Management LLC’s holdings, making the stock its 7th largest holding. Paragon Capital Management LLC’s holdings in Paychex were worth $9,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its position in shares of Paychex by 404.8% in the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Paychex in the fourth quarter worth approximately $25,000. Liberty Wealth Management LLC acquired a new stake in shares of Paychex in the fourth quarter worth approximately $25,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Paychex in the fourth quarter worth approximately $27,000. Finally, Loeb Partners Corp acquired a new stake in shares of Paychex in the fourth quarter worth approximately $39,000. 68.64% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on PAYX. Credit Suisse Group raised their target price on shares of Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays raised their target price on shares of Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. BMO Capital Markets reissued a “market perform” rating on shares of Paychex in a research report on Thursday, December 20th. Finally, Bank of America upgraded shares of Paychex from an “underperform” rating to a “neutral” rating and raised their price target for the company from $64.00 to $68.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.14.
NASDAQ PAYX traded up $0.21 during mid-day trading on Monday, hitting $82.37. The company’s stock had a trading volume of 896,098 shares, compared to its average volume of 1,954,987. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.16 and a beta of 1.04. Paychex, Inc. has a 52-week low of $59.55 and a 52-week high of $82.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.11.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Paychex had a net margin of 28.19% and a return on equity of 43.20%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Paychex, Inc. will post 2.86 EPS for the current fiscal year.
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Paychex Company Profile
Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to 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.
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