Ellsworth Advisors LLC grew its stake in shares of Paychex, Inc. (NASDAQ:PAYX – Free Report) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,274 shares of the business services provider’s stock after purchasing an additional 1,430 shares during the quarter. Paychex comprises about 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Ellsworth Advisors LLC’s holdings in Paychex were worth $4,893,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. ORG Partners LLC boosted its stake in shares of Paychex by 227.6% during the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after acquiring an additional 173 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Paychex during the 1st quarter valued at $31,000. ESL Trust Services LLC bought a new stake in shares of Paychex during the 1st quarter valued at $31,000. Clear Investment Research LLC lifted its position in shares of Paychex by 55.8% during the 4th quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 110 shares during the period. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Paychex during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
Insider Activity at Paychex
In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of Paychex stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at $670,452.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David J. S. Flaschen sold 19,709 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $124.55, for a total value of $2,454,755.95. Following the transaction, the director now owns 5,383 shares in the company, valued at $670,452.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Anthony Bottini sold 8,954 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the transaction, the vice president now owns 79,232 shares in the company, valued at approximately $9,793,075.20. The disclosure for this sale can be found here. Insiders have sold 166,872 shares of company stock valued at $19,992,573 over the last three months. 11.50% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Report on PAYX
Paychex Stock Performance
Shares of PAYX traded down $0.62 on Friday, reaching $125.20. 1,171,508 shares of the company’s stock traded hands, compared to its average volume of 1,846,948. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21. The stock has a market cap of $45.07 billion, a PE ratio of 26.81, a PEG ratio of 3.29 and a beta of 1.00. The stock’s 50 day simple moving average is $122.82 and its two-hundred day simple moving average is $122.32. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $129.92.
Paychex (NASDAQ:PAYX – Get Free Report) last released its earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.
Paychex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 8th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, August 8th. Paychex’s payout ratio is 83.94%.
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.
See Also
- Five stocks we like better than Paychex
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- JD.com Earnings Surprise: China’s Outlook Better Than Expected
- What is a Low P/E Ratio and What Does it Tell Investors?
- Warren Buffett’s Recent Stock Moves: Top Buys and Sells to Watch
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Sea Limited’s E-Commerce and Fintech Strength Fuel Stock Surge
Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX – Free Report).
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.