Elevated Capital Advisors LLC Purchases 448 Shares of Paychex, Inc. (NASDAQ:PAYX)

Elevated Capital Advisors LLC raised its position in Paychex, Inc. (NASDAQ:PAYX) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,783 shares of the business services provider’s stock after purchasing an additional 448 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Paychex were worth $1,044,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Paychex by 0.4% in the first quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock worth $3,750,472,000 after purchasing an additional 123,268 shares during the last quarter. Capital International Investors grew its position in shares of Paychex by 12.8% in the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after buying an additional 2,373,894 shares during the last quarter. Capital World Investors increased its stake in shares of Paychex by 155.6% in the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after buying an additional 1,508,681 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Paychex by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock worth $279,351,000 after acquiring an additional 384,184 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Paychex by 57.2% in the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after acquiring an additional 793,468 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Up 0.2 %

PAYX stock opened at $141.34 on Wednesday. The stock’s 50 day simple moving average is $134.03 and its 200 day simple moving average is $126.50. The company has a market cap of $50.87 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $144.17.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Paychex’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is currently 83.58%.

Insider Transactions at Paychex

In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction dated 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. S. Flaschen sold 9,615 shares of Paychex stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $125.60, for a total value of $1,207,644.00. Following the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $676,104.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,223 shares of company stock valued at $10,592,156 over the last three months. Corporate insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PAYX. Robert W. Baird decreased their target price on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Barclays increased their price objective on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, June 27th. TD Cowen increased their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group boosted their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, Paychex has a consensus rating of “Hold” and a consensus 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.