Allen Capital Group LLC Has $785,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Allen Capital Group LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 149.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,850 shares of the business services provider’s stock after acquiring an additional 3,502 shares during the period. Allen Capital Group LLC’s holdings in Paychex were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PAYX. Capital World Investors boosted its position in Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock worth $304,338,000 after purchasing an additional 1,508,681 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Paychex by 38,655.2% in the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after buying an additional 797,843 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Paychex by 30.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,676,521 shares of the business services provider’s stock worth $205,877,000 after buying an additional 395,343 shares during the period. Dimensional Fund Advisors LP grew its stake in Paychex by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after buying an additional 384,184 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Paychex by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after acquiring an additional 345,682 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

NASDAQ:PAYX opened at $144.09 on Friday. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. 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 firm has a market capitalization of $51.86 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 3.87 and a beta of 0.99. The firm has a 50-day moving average price of $140.00 and a 200 day moving average price of $129.75.

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

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is presently 83.58%.

Analysts Set New Price Targets

A number of research firms have issued reports on PAYX. UBS Group upped their price target on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. TD Cowen boosted their target price on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays upped their target price on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $131.62.

Insider Buying and Selling

In other news, CFO Robert L. Schrader sold 13,015 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This trade represents a 42.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the sale, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. The trade was a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,174 shares of company stock valued at $7,577,231 over the last quarter. Corporate insiders own 11.40% of the company’s stock.

Paychex Profile

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.