Paychex Inc. (PAYX) Position Decreased by Guggenheim Capital LLC
Guggenheim Capital LLC reduced its position in shares of Paychex Inc. (NASDAQ:PAYX) by 17.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,042,921 shares of the company’s stock after selling 221,691 shares during the period. Guggenheim Capital LLC owned 0.29% of Paychex worth $62,054,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in Paychex by 65.1% in the second quarter. Global X Management Co. LLC now owns 1,699 shares of the company’s stock worth $101,000 after buying an additional 670 shares in the last quarter. Jolley Asset Management LLC boosted its stake in Paychex by 19.5% in the second quarter. Jolley Asset Management LLC now owns 1,835 shares of the company’s stock worth $109,000 after buying an additional 300 shares in the last quarter. Financial Architects Inc boosted its stake in Paychex by 0.7% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $109,000 after buying an additional 12 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in Paychex by 371.4% in the second quarter. Ropes Wealth Advisors LLC now owns 1,843 shares of the company’s stock worth $110,000 after buying an additional 1,452 shares during the period. Finally, Americafirst Capital Management LLC bought a new stake in Paychex during the second quarter worth approximately $111,000. Institutional investors and hedge funds own 69.13% of the company’s stock.
Paychex Inc. (NASDAQ:PAYX) traded up 1.21% during trading on Friday, hitting $56.68. 3,782,196 shares of the stock traded hands. The firm’s 50-day moving average is $56.23 and its 200-day moving average is $56.99. The stock has a market cap of $20.50 billion, a P/E ratio of 26.86 and a beta of 0.86. Paychex Inc. has a 12 month low of $45.76 and a 12 month high of $61.87.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The firm earned $785.50 million during the quarter, compared to the consensus estimate of $782.80 million. Paychex had a return on equity of 40.10% and a net margin of 25.38%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. On average, analysts forecast that Paychex Inc. will post $2.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 1st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, October 28th. Paychex’s dividend payout ratio (DPR) is 87.20%.
A number of analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $49.00 target price on shares of Paychex in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Paychex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Finally, Wedbush assumed coverage on shares of Paychex in a research note on Thursday, September 8th. They issued a “neutral” rating and a $65.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.00.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
Receive News & Stock Ratings for Paychex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex Inc. and related stocks with our FREE daily email newsletter.