Kolinsky Wealth Management LLC Buys 101 Shares of Paychex, Inc. (NASDAQ:PAYX)

Kolinsky Wealth Management LLC lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,087 shares of the business services provider’s stock after purchasing an additional 101 shares during the period. Kolinsky Wealth Management LLC’s holdings in Paychex were worth $683,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PAYX. CVA Family Office LLC grew its holdings in Paychex by 5.6% during the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after purchasing an additional 74 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. Kanawha Capital Management LLC increased its holdings in shares of Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after acquiring an additional 75 shares during the last quarter. Baron Wealth Management LLC raised its stake in Paychex by 2.2% in the 3rd quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 79 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Transactions at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. The trade was a 42.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the completion of the transaction, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. The trade was a 64.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,174 shares of company stock valued at $7,577,231. Corporate insiders own 11.40% of the company’s stock.

Paychex Stock Up 0.4 %

PAYX stock opened at $146.27 on Friday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The business has a 50-day simple moving average of $141.39 and a 200 day simple moving average of $130.74. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $52.64 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 4.00 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. Sell-side analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th were paid a $0.98 dividend. The ex-dividend date was Thursday, November 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.68%. Paychex’s payout ratio is 83.58%.

Analyst Upgrades and Downgrades

PAYX has been the topic of several research reports. UBS Group upped their price objective on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Stifel Nicolaus raised their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Finally, Barclays increased their target price on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.62.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.