Loudon Investment Management LLC Has $221,000 Position in Paychex, Inc. (PAYX)
Loudon Investment Management LLC continued to hold its stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,884 shares of the business services provider’s stock at the end of the second quarter. Loudon Investment Management LLC’s holdings in Paychex were worth $221,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Paychex by 2,782.5% in the first quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after buying an additional 24,825,695 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Paychex by 23.8% in the first quarter. Ameriprise Financial Inc. now owns 4,237,537 shares of the business services provider’s stock worth $248,742,000 after buying an additional 813,930 shares during the period. Mawer Investment Management Ltd. bought a new stake in shares of Paychex during the second quarter worth about $45,209,000. JPMorgan Chase & Co. increased its stake in shares of Paychex by 314.1% in the first quarter. JPMorgan Chase & Co. now owns 1,001,929 shares of the business services provider’s stock worth $59,014,000 after buying an additional 759,973 shares during the period. Finally, Morgan Stanley increased its stake in shares of Paychex by 27.5% in the first quarter. Morgan Stanley now owns 2,786,888 shares of the business services provider’s stock worth $164,149,000 after buying an additional 601,496 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.
Paychex, Inc. (NASDAQ PAYX) opened at 55.77 on Tuesday. Paychex, Inc. has a one year low of $52.78 and a one year high of $63.03. The stock has a market capitalization of $20.04 billion, a PE ratio of 24.79 and a beta of 0.96. The company’s 50-day moving average price is $56.59 and its 200-day moving average price is $58.75.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $799 million during the quarter, compared to analyst estimates of $797.70 million. Paychex had a return on equity of 42.65% and a net margin of 25.93%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. Equities research analysts predict that Paychex, Inc. will post $2.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Tuesday, August 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 28th. This is a positive change from Paychex’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 3.59%.
TRADEMARK VIOLATION WARNING: This report was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/22/loudon-investment-management-llc-has-221000-position-in-paychex-inc-payx.html.
A number of analysts have issued reports on PAYX shares. Morgan Stanley cut their target price on Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 30th. William Blair downgraded Paychex from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. BidaskClub downgraded Paychex from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 1st. Wedbush reissued a “neutral” rating and set a $61.25 price objective (down from $65.00) on shares of Paychex in a research report on Tuesday, June 6th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $60.00 price objective (down from $62.00) on shares of Paychex in a research report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.28.
In other Paychex news, CEO Martin Mucci sold 30,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $57.04, for a total transaction of $1,711,200.00. Following the completion of the sale, the chief executive officer now directly owns 237,754 shares in the company, valued at $13,561,488.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Efrain Rivera sold 5,837 shares of the company’s stock in a transaction dated Sunday, July 9th. The stock was sold at an average price of $57.39, for a total value of $334,985.43. Following the sale, the insider now owns 53,395 shares of the company’s stock, valued at $3,064,339.05. The disclosure for this sale can be found here. Insiders have sold 92,497 shares of company stock valued at $5,300,889 over the last 90 days. 11.60% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).
Receive News & Stock Ratings for Paychex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex Inc. and related stocks with our FREE daily email newsletter.