Mitsubishi UFJ Trust & Banking Corp Has $50.11 Million Position in Paychex, Inc. (PAYX)
Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,679 shares of the business services provider’s stock after buying an additional 53,436 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.23% of Paychex worth $50,107,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PAYX. National Pension Service boosted its stake in Paychex by 10.3% during the 2nd quarter. National Pension Service now owns 320,708 shares of the business services provider’s stock valued at $18,181,000 after purchasing an additional 30,050 shares during the last quarter. Forte Capital LLC ADV boosted its stake in Paychex by 21.7% during the 2nd quarter. Forte Capital LLC ADV now owns 33,329 shares of the business services provider’s stock valued at $1,898,000 after purchasing an additional 5,948 shares during the last quarter. Somerset Trust Co boosted its stake in Paychex by 2.8% during the 2nd quarter. Somerset Trust Co now owns 27,157 shares of the business services provider’s stock valued at $1,546,000 after purchasing an additional 734 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Paychex by 9.3% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 108,596 shares of the business services provider’s stock valued at $6,183,000 after purchasing an additional 9,260 shares during the last quarter. Finally, Iowa State Bank boosted its stake in Paychex by 1.8% during the 2nd quarter. Iowa State Bank now owns 4,329 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 77 shares during the last quarter. 68.02% of the stock is owned by institutional investors.
In related news, CEO Martin Mucci sold 29,786 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $63.17, for a total value of $1,881,581.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John B. Gibson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total value of $382,200.00. Following the completion of the transaction, the vice president now directly owns 21,758 shares in the company, valued at $1,385,984.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,395 shares of company stock worth $5,914,383. Company insiders own 11.70% of the company’s stock.
Paychex, Inc. (PAYX) opened at $66.87 on Friday. The stock has a market capitalization of $24,186.45, a price-to-earnings ratio of 29.65, a PEG ratio of 3.65 and a beta of 0.99. Paychex, Inc. has a 52 week low of $54.20 and a 52 week high of $67.88.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. analysts forecast that Paychex, Inc. will post 2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.99%. Paychex’s dividend payout ratio (DPR) is currently 87.34%.
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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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