Outlook Wealth Advisors LLC Purchases 451 Shares of Paychex, Inc. (NASDAQ:PAYX)

Outlook Wealth Advisors LLC increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 25.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,248 shares of the business services provider’s stock after purchasing an additional 451 shares during the period. Outlook Wealth Advisors LLC’s holdings in Paychex were worth $276,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PAYX. OFI Invest Asset Management acquired a new position in shares of Paychex in the 3rd quarter valued at $26,000. Carmel Capital Partners LLC acquired a new position in Paychex in the third quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Paychex by 91.5% during the third quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock worth $31,000 after purchasing an additional 130 shares during the period. Fortis Group Advisors LLC acquired a new stake in Paychex during the third quarter valued at approximately $34,000. Finally, Clear Investment Research LLC grew its stake in shares of Paychex by 55.8% in the 4th quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 110 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYX has been the topic of several recent analyst reports. Bank of America boosted their price target on Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a research note on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of Paychex in a report on Wednesday, April 3rd. TD Cowen reduced their price target on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $130.00 price objective on shares of Paychex in a report on Wednesday, April 3rd. Finally, Evercore ISI reissued an “in-line” rating and issued a $118.00 target price on shares of Paychex in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, Paychex currently has a consensus rating of “Hold” and an average target price of $123.00.

Insider Activity at Paychex

In other Paychex news, VP Mark Anthony Bottini sold 15,481 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the transaction, the vice president now owns 82,690 shares in the company, valued at $9,966,625.70. The sale was disclosed in a document filed with the SEC, which is available through this link. 11.50% of the stock is currently owned by corporate insiders.

Paychex Trading Down 1.6 %

Shares of NASDAQ:PAYX traded down $2.00 during trading on Friday, hitting $119.97. 2,400,533 shares of the company’s stock were exchanged, compared to its average volume of 2,120,168. The firm has a 50-day moving average price of $121.94 and a two-hundred day moving average price of $120.36. Paychex, Inc. has a 1-year low of $104.09 and a 1-year high of $129.70. The firm has a market cap of $43.18 billion, a P/E ratio of 26.14, a PEG ratio of 3.44 and a beta of 0.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. Equities analysts predict that Paychex, Inc. will post 4.71 earnings per share for the current year.

Paychex announced that its board has approved a share buyback plan on Friday, January 19th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.