UBS Asset Management Americas Inc. Has $104,467,000 Stake in Paychex Inc. (PAYX)
UBS Asset Management Americas Inc. decreased its position in Paychex Inc. (NASDAQ:PAYX) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,805,214 shares of the company’s stock after selling 385,165 shares during the period. UBS Asset Management Americas Inc. owned about 0.50% of Paychex worth $104,467,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of 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. Zions Bancorporation boosted its stake in shares of Paychex by 683.0% in the second quarter. Zions Bancorporation now owns 1,754 shares of the company’s stock worth $105,000 after buying an additional 1,530 shares in the last quarter. Jolley Asset Management LLC boosted its stake in shares of 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 shares of 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. Finally, Ropes Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. 67.66% of the stock is currently owned by institutional investors.
Shares of Paychex Inc. (NASDAQ:PAYX) traded up 0.24% during mid-day trading on Monday, hitting $58.12. 610,555 shares of the stock traded hands. The stock has a market cap of $21.02 billion, a PE ratio of 27.55 and a beta of 0.86. The stock has a 50-day moving average of $55.83 and a 200 day moving average of $57.31. Paychex Inc. has a one year low of $45.76 and a one year high of $61.87.
Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 net margin of 25.38% and a return on equity of 40.10%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Equities analysts predict that Paychex Inc. will post $2.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 1st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, October 28th. Paychex’s dividend payout ratio (DPR) is presently 87.20%.
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A number of brokerages have weighed in on PAYX. Morgan Stanley reiterated an “underweight” rating and set a $49.00 price target on shares of Paychex in a research report on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Paychex from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, Wedbush began coverage on shares of Paychex in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. 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 stock has an average rating of “Hold” and an average target price 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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