Fruth Investment Management purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,471 shares of the business services provider’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PAYX. Norway Savings Bank acquired a new stake in shares of Paychex during the third quarter worth $28,000. Demars Financial Group LLC acquired a new stake in shares of Paychex during the second quarter worth $30,000. Kathmere Capital Management LLC acquired a new stake in shares of Paychex during the third quarter worth $32,000. Peoples Financial Services CORP. lifted its holdings in shares of Paychex by 65.5% during the fourth quarter. Peoples Financial Services CORP. now owns 379 shares of the business services provider’s stock worth $35,000 after purchasing an additional 150 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Paychex during the third quarter worth $47,000. 69.85% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on PAYX shares. Bank of America increased their price target on Paychex from $70.00 to $81.00 in a report on Monday, December 28th. Argus raised their target price on Paychex from $92.00 to $103.00 and gave the company a “buy” rating in a report on Monday, January 4th. Wells Fargo & Company started coverage on Paychex in a report on Friday, December 18th. They issued an “overweight” rating and a $105.00 target price for the company. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 target price (up previously from $85.00) on shares of Paychex in a report on Wednesday, December 23rd. Finally, Barclays raised their target price on Paychex from $73.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Paychex has a consensus rating of “Hold” and an average price target of $87.67.

In related news, CFO Efrain Rivera sold 216,818 shares of Paychex stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $83.72, for a total transaction of $18,152,002.96. Following the completion of the sale, the chief financial officer now owns 143,924 shares in the company, valued at approximately $12,049,317.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert L. Schrader sold 3,559 shares of Paychex stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $94.93, for a total value of $337,855.87. Following the sale, the vice president now owns 8,871 shares of the company’s stock, valued at approximately $842,124.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 483,252 shares of company stock valued at $42,117,342. 11.70% of the stock is currently owned by company insiders.

Shares of PAYX stock opened at $89.56 on Thursday. Paychex, Inc. has a fifty-two week low of $47.87 and a fifty-two week high of $99.95. The stock has a market cap of $32.30 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.63 and a beta of 0.92. The business has a fifty day simple moving average of $93.32 and a 200-day simple moving average of $82.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.29.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, December 22nd. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $983.70 million during the quarter, compared to analysts’ expectations of $956.30 million. Paychex had a return on equity of 38.70% and a net margin of 26.26%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, sell-side analysts anticipate that Paychex, Inc. will post 2.82 earnings per share for the current year.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small- to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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