Howland Capital Management LLC Has $13,363,000 Stake in Paychex Inc. (PAYX)
Howland Capital Management LLC reduced its stake in shares of Paychex Inc. (NASDAQ:PAYX) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,915 shares of the company’s stock after selling 4,330 shares during the period. Howland Capital Management LLC owned about 0.06% of Paychex worth $13,363,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in PAYX. 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 valued at $109,000 after buying an additional 12 shares in the last quarter. Investment Management of Virginia LLC boosted its stake in Paychex by 0.6% in the third quarter. Investment Management of Virginia LLC now owns 4,150 shares of the company’s stock valued at $240,000 after buying an additional 25 shares in the last quarter. IFC Holdings Incorporated FL boosted its stake in Paychex by 0.6% in the second quarter. IFC Holdings Incorporated FL now owns 4,712 shares of the company’s stock valued at $278,000 after buying an additional 27 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in Paychex by 0.3% in the third quarter. Carroll Financial Associates Inc. now owns 8,963 shares of the company’s stock valued at $518,000 after buying an additional 29 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Paychex by 0.3% in the second quarter. Synovus Financial Corp now owns 8,692 shares of the company’s stock valued at $517,000 after buying an additional 30 shares in the last quarter. 67.66% of the stock is owned by institutional investors.
Shares of Paychex Inc. (NASDAQ:PAYX) traded down 0.54% on Wednesday, reaching $59.14. 956,993 shares of the company were exchanged. Paychex Inc. has a 12-month low of $45.76 and a 12-month high of $61.87. The company’s 50 day moving average is $55.88 and its 200 day moving average is $57.42. The firm has a market capitalization of $21.39 billion, a PE ratio of 28.03 and a beta of 0.86.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business earned $785.50 million during the quarter, compared to analysts’ expectations of $782.80 million. Paychex had a net margin of 25.38% and a return on equity of 40.10%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. Analysts forecast that Paychex Inc. will post $2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 1st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, October 28th. Paychex’s payout ratio is 87.20%.
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Several equities research analysts recently commented on PAYX shares. Zacks Investment Research cut shares of Paychex from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Wedbush started coverage on shares of Paychex in a research report on Thursday, September 8th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $49.00 price target on shares of Paychex in a research report 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. The company has an average rating of “Hold” and a consensus 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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