Azimuth Capital Management LLC Acquires 860 Shares of Paychex, Inc. (NASDAQ:PAYX)

Azimuth Capital Management LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,157 shares of the business services provider’s stock after purchasing an additional 860 shares during the period. Azimuth Capital Management LLC’s holdings in Paychex were worth $3,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JJJ Advisors Inc. increased its stake in shares of Paychex by 857.1% in the 4th quarter. JJJ Advisors Inc. now owns 268 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 240 shares during the last quarter. Addison Advisors LLC acquired a new stake in shares of Paychex during the 4th quarter valued at $25,000. Pflug Koory LLC acquired a new stake in shares of Paychex during the 4th quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of Paychex during the 4th quarter valued at $30,000. Finally, Birchcreek Wealth Management LLC acquired a new stake in shares of Paychex during the 4th quarter valued at $30,000. Institutional investors own 70.00% of the company’s stock.

Paychex stock traded up $0.19 during midday trading on Tuesday, reaching $90.58. The stock had a trading volume of 88,201 shares, compared to its average volume of 1,778,499. Paychex, Inc. has a 12 month low of $47.87 and a 12 month high of $99.95. The company has a market capitalization of $32.67 billion, a P/E ratio of 30.87, a PEG ratio of 3.81 and a beta of 0.90. The company has a fifty day moving average price of $89.57 and a two-hundred day moving average price of $85.62. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, December 22nd. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The business had revenue of $983.70 million during the quarter, compared to analyst estimates of $956.30 million. During the same period in the previous year, the company posted $0.70 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Paychex, Inc. will post 2.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 25th. Investors of record on Monday, February 1st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, January 29th. Paychex’s payout ratio is 82.67%.

Several equities research analysts recently weighed in on the company. Wolfe Research raised their price objective on Paychex from $78.00 to $92.00 and gave the company a “market perform” rating in a report on Monday, December 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. Argus raised their price objective on Paychex from $92.00 to $103.00 and gave the company a “buy” rating in a report on Monday, January 4th. Bank of America lifted their target price on Paychex from $70.00 to $81.00 in a report on Monday, December 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Paychex from $81.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, January 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.67.

In other Paychex news, VP Robert L. Schrader sold 3,559 shares of the business’s stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $94.93, for a total transaction of $337,855.87. Following the completion of the sale, the vice president now directly owns 8,871 shares of the company’s stock, valued at approximately $842,124.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John B. Gibson sold 82,488 shares of the business’s stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $89.79, for a total value of $7,406,597.52. Insiders own 11.70% of the company’s stock.

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 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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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