Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Bontempo Ohly Capital Mgmt LLC

Bontempo Ohly Capital Mgmt LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,787 shares of the business services provider’s stock after purchasing an additional 222 shares during the period. Paychex accounts for 2.1% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 14th largest position. Bontempo Ohly Capital Mgmt LLC’s holdings in Paychex were worth $4,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PAYX. 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 during the last quarter. ORG Partners LLC lifted its holdings in shares of Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Paychex in the 2nd quarter worth approximately $30,000. American National Bank raised its stake in Paychex by 166.7% during the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 180 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PAYX. Morgan Stanley lifted their target price 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 lifted their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays lifted their target price on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. TD Cowen lifted their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their target price on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. 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 $131.62.

Insider Activity

In other news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. The trade was a 42.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction on Friday, October 4th. The shares were sold at an average price of $139.18, for a total value 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. Over the last quarter, insiders have sold 54,174 shares of company stock worth $7,577,231. 11.40% of the stock is owned by corporate insiders.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $142.86 on Friday. 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 stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.96 and a beta of 0.99. The stock’s fifty day simple moving average is $142.45 and its 200 day simple moving average is $131.43. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71.

Paychex (NASDAQ:PAYX) last issued 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. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. As a group, sell-side analysts forecast 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 was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.98 per share. The ex-dividend date was Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.74%. Paychex’s dividend payout ratio is 83.58%.

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.