Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,663 shares of the business services provider’s stock after buying an additional 102 shares during the quarter. Mattern Capital Management LLC’s holdings in Paychex were worth $8,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. ORG Partners LLC lifted its holdings in Paychex by 227.6% during the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Paychex during the second quarter valued at $30,000. Chilton Capital Management LLC purchased a new position in Paychex during the first quarter valued at $31,000. Finally, ESL Trust Services LLC purchased a new position in Paychex during the first quarter valued at $31,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX stock opened at $140.33 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50-day moving average is $134.98 and its two-hundred day moving average is $126.82. Paychex, Inc. has a 12 month low of $106.27 and a 12 month high of $144.17. The company has a market capitalization of $50.50 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00.

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

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.58%.

Analyst Ratings Changes

Several equities analysts have issued reports on PAYX shares. Royal Bank of Canada increased their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a report on Wednesday, October 2nd. UBS Group increased 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. Citigroup raised their price target on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group raised their price target on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have issued 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.

Insider Buying and Selling at Paychex

In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the sale, the director now directly owns 5,383 shares in the company, valued at $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the sale, the director now directly owns 5,383 shares in the company, valued at $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael E. Gioja sold 26,428 shares of Paychex stock in a transaction dated 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 sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,608 shares of company stock worth $9,384,512 over the last three months. Insiders own 11.40% of the company’s stock.

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.