BNP Paribas Arbitrage SA Has $12,222,000 Position in Paychex Inc. (PAYX)
BNP Paribas Arbitrage SA increased its position in shares of Paychex Inc. (NASDAQ:PAYX) by 174.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,203 shares of the company’s stock after buying an additional 134,245 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of Paychex worth $12,222,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Paychex by 11.3% in the second quarter. BlackRock Fund Advisors now owns 10,110,305 shares of the company’s stock worth $601,563,000 after buying an additional 1,030,300 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Paychex by 10.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,119,678 shares of the company’s stock worth $602,121,000 after buying an additional 936,651 shares during the last quarter. Janus Capital Management LLC raised its stake in Paychex by 44.9% in the second quarter. Janus Capital Management LLC now owns 2,627,567 shares of the company’s stock worth $156,340,000 after buying an additional 813,934 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Paychex by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 9,321,275 shares of the company’s stock worth $554,618,000 after buying an additional 751,220 shares during the last quarter. Finally, AGF Investments Inc. bought a new stake in Paychex during the second quarter worth about $35,972,000. Institutional investors own 68.70% of the company’s stock.
Shares of Paychex Inc. (NASDAQ:PAYX) opened at 55.93 on Friday. Paychex Inc. has a one year low of $45.76 and a one year high of $61.87. The stock has a market capitalization of $20.23 billion, a PE ratio of 26.51 and a beta of 0.86. The company’s 50-day moving average price is $55.82 and its 200 day moving average price is $57.12.
Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $785.50 million for 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%. Paychex’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Analysts anticipate 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. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, October 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.29%. Paychex’s dividend payout ratio is presently 87.20%.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Paychex from a “hold” rating to a “sell” rating in a research note on Wednesday, August 31st. Wedbush assumed coverage on Paychex in a research note on Thursday, September 8th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Morgan Stanley restated an “underweight” rating and issued a $49.00 target price on shares of Paychex in a research note on Tuesday, August 23rd. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Paychex has an average rating of “Hold” and a consensus price target 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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