Keystone Financial Planning Inc. Has $3,814,000 Position in Paychex Inc. (PAYX)
Keystone Financial Planning Inc. boosted its position in shares of Paychex Inc. (NASDAQ:PAYX) by 37.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,903 shares of the company’s stock after buying an additional 18,067 shares during the period. Paychex accounts for 2.5% of Keystone Financial Planning Inc.’s portfolio, making the stock its 23rd largest position. Keystone Financial Planning Inc.’s holdings in Paychex were worth $3,814,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in Paychex during the first quarter worth $1,998,000. First Financial Bank N.A. Trust Division raised its stake in shares of 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. Stock Yards Bank & Trust Co. raised its stake in shares of 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. Cullinan Associates Inc. raised its stake in shares of 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. Finally, Osborn Rohs Williams & Donohoe Ltd raised its stake in shares of Paychex by 0.6% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 8,799 shares of the company’s stock valued at $524,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 67.66% of the company’s stock.
Paychex Inc. (NASDAQ:PAYX) traded up 0.02% during mid-day trading on Monday, reaching $57.99. The company’s stock had a trading volume of 2,080,989 shares. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 27.48 and a beta of 0.86. The firm has a 50-day moving average of $55.83 and a 200 day moving average of $57.31. Paychex Inc. has a 1-year low of $45.76 and a 1-year high of $61.87.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 earned $785.50 million during the quarter, compared to analysts’ expectations of $782.80 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts expect that Paychex Inc. will post $2.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 1st were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.17%. Paychex’s payout ratio is 87.20%.
PAYX has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Paychex from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Morgan Stanley restated an “underweight” rating and set a $49.00 target price on shares of Paychex in a research report on Tuesday, August 23rd. Finally, Wedbush initiated coverage on shares of Paychex in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus 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.
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