Clear Rock Advisors LLC Purchases 583 Shares of Paychex, Inc. (NASDAQ:PAYX)

Clear Rock Advisors LLC increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,944 shares of the business services provider’s stock after buying an additional 583 shares during the period. Paychex comprises approximately 1.2% of Clear Rock Advisors LLC’s portfolio, making the stock its 28th largest position. Clear Rock Advisors LLC’s holdings in Paychex were worth $2,695,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new stake in shares of Paychex in the first quarter worth $31,000. ESL Trust Services LLC bought a new stake in shares of Paychex in the 1st quarter valued at about $31,000. Clear Investment Research LLC grew its position 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 buying an additional 110 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Paychex in the fourth quarter valued at about $40,000. Finally, Tidemark LLC bought a new position in shares of Paychex during the fourth quarter worth about $40,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Up 0.6 %

Shares of NASDAQ:PAYX traded up $0.79 during trading on Friday, reaching $127.28. 2,415,604 shares of the stock were exchanged, compared to its average volume of 1,943,847. The stock has a fifty day moving average of $122.07 and a two-hundred day moving average of $122.08. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $129.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $45.84 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, June 26th. The business services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Paychex had a net margin of 32.03% and a return on equity of 46.63%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. Research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 8th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 8th. This represents a $3.92 annualized dividend and a dividend yield of 3.08%. Paychex’s payout ratio is 83.94%.

Insider Activity at Paychex

In other news, Chairman Martin Mucci sold 101,490 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $117.27, for a total value of $11,901,732.30. Following the completion of the sale, the chairman now owns 437,345 shares in the company, valued at approximately $51,287,448.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Martin Mucci sold 101,490 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $117.27, for a total value of $11,901,732.30. Following the completion of the transaction, the chairman now directly owns 437,345 shares of the company’s stock, valued at $51,287,448.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David J. S. Flaschen sold 9,615 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $125.60, for a total value of $1,207,644.00. Following the sale, the director now directly owns 5,383 shares of the company’s stock, valued at $676,104.80. The disclosure for this sale can be found here. In the last three months, insiders sold 152,438 shares of company stock valued at $18,185,292. 11.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Bank of America increased their price objective on shares of Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Morgan Stanley cut their price target on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Barclays decreased their price target on Paychex from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Monday, July 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $122.46.

Paychex Company Profile

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.