U.S. Capital Wealth Advisors LLC Has $10.04 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

U.S. Capital Wealth Advisors LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,848 shares of the business services provider’s stock after selling 2,851 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Paychex were worth $10,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its holdings in shares of Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Paychex by 227.6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Paychex during the first quarter valued at about $31,000. Chilton Capital Management LLC bought a new stake in shares of Paychex during the first quarter worth about $31,000. Finally, American National Bank raised its holdings in shares of Paychex by 166.7% in the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock worth $34,000 after acquiring an additional 180 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Paychex news, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction dated 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 completion of the transaction, the vice president now owns 14,515 shares of the company’s stock, valued at $2,020,197.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the sale, the director now owns 5,383 shares of the company’s stock, valued at $674,005.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the transaction, the vice president now directly owns 14,515 shares of the company’s stock, valued at $2,020,197.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,223 shares of company stock valued at $10,592,156. Company insiders own 11.40% of the company’s stock.

Paychex Stock Performance

Shares of PAYX stock traded down $0.12 during trading hours on Wednesday, hitting $141.22. 232,042 shares of the company were exchanged, compared to its average volume of 1,790,634. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 3.89 and a beta of 1.00. The firm has a fifty day simple moving average of $134.03 and a 200 day simple moving average of $126.50. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17.

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

Paychex Announces Dividend

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 paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, November 7th. Paychex’s payout ratio is currently 83.58%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen increased their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price target on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. UBS Group upped their target price on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Citigroup raised their price target on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $130.77.

Paychex Company 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.