Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,714 shares of the business services provider’s stock after acquiring an additional 97 shares during the quarter. Fulton Bank N.A.’s holdings in Paychex were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYX. CVA Family Office LLC increased its stake in shares of Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after purchasing an additional 74 shares in the last quarter. Fortitude Family Office LLC grew its holdings 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 buying an additional 74 shares during the last quarter. Kanawha Capital Management LLC increased its position in Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after buying an additional 75 shares in the last quarter. Baron Wealth Management LLC raised its holdings in shares of Paychex by 2.2% in the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after acquiring an additional 79 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Paychex by 0.8% in the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred 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 directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. The trade was a 42.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.40% of the stock is owned by corporate insiders.

Paychex Stock Performance

Paychex stock opened at $140.25 on Thursday. The company has a market cap of $50.50 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $150.71. 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 stock’s 50-day moving average is $142.33 and its 200-day moving average is $134.20.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 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 for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $1.08 earnings per share. Paychex’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PAYX. UBS Group lifted their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised 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. Barclays boosted their price target on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $132.23.

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.