Central Bank & Trust Co. Has $6,001,000 Position in Paychex Inc. (PAYX)
Central Bank & Trust Co. increased its stake in shares of Paychex Inc. (NASDAQ:PAYX) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,717 shares of the company’s stock after buying an additional 4,888 shares during the period. Paychex accounts for about 1.7% of Central Bank & Trust Co.’s holdings, making the stock its 15th largest position. Central Bank & Trust Co.’s holdings in Paychex were worth $6,001,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PAYX. Cullinan Associates Inc. increased its stake in Paychex by 35.3% in the second quarter. Cullinan Associates Inc. now owns 250,422 shares of the company’s stock valued at $14,900,000 after buying an additional 65,392 shares during the last quarter. Stock Yards Bank & Trust Co. increased its stake in Paychex by 4.2% in the second quarter. Stock Yards Bank & Trust Co. now owns 277,201 shares of the company’s stock valued at $16,493,000 after buying an additional 11,257 shares during the last quarter. First Financial Bank N.A. Trust Division increased its stake in Paychex by 4.9% in the second quarter. First Financial Bank N.A. Trust Division now owns 63,309 shares of the company’s stock valued at $3,767,000 after buying an additional 2,970 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Paychex by 17.0% in the first quarter. First Republic Investment Management Inc. now owns 399,481 shares of the company’s stock valued at $21,577,000 after buying an additional 57,929 shares during the last quarter. Finally, Oak Associates Ltd. OH increased its stake in Paychex by 11.7% in the first quarter. Oak Associates Ltd. OH now owns 98,635 shares of the company’s stock valued at $5,327,000 after buying an additional 10,310 shares during the last quarter. Hedge funds and other institutional investors own 68.70% of the company’s stock.
Shares of Paychex Inc. (NASDAQ:PAYX) traded up 0.02% during mid-day trading on Friday, reaching $55.93. The company had a trading volume of 2,180,443 shares. Paychex Inc. has a 52 week low of $45.76 and a 52 week high of $61.87. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 26.51 and a beta of 0.86. The stock has a 50 day moving average of $55.82 and a 200-day moving average of $57.12.
Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Paychex had a return on equity of 40.10% and a net margin of 25.38%. The company had revenue of $785.50 million for the quarter, compared to analyst estimates of $782.80 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that Paychex Inc. will post $2.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, October 28th. Paychex’s dividend payout ratio is currently 87.20%.
Several research firms recently commented on PAYX. Wedbush began coverage on Paychex in a report on Thursday, September 8th. They issued a “neutral” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded Paychex from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $49.00 price objective on shares of Paychex in a report on Tuesday, August 23rd. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.00.
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.
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