Symmetry Partners LLC Purchases 168 Shares of Paychex, Inc. (NASDAQ:PAYX)

Symmetry Partners LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,896 shares of the business services provider’s stock after buying an additional 168 shares during the period. Symmetry Partners LLC’s holdings in Paychex were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in Paychex in the 1st quarter valued at $31,000. Chilton Capital Management LLC bought a new position in Paychex during the first quarter valued at about $31,000. Clear Investment Research LLC raised its holdings in Paychex by 55.8% in the 4th quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 110 shares in the last quarter. Tidemark LLC bought a new stake in shares of Paychex in the 4th quarter worth approximately $40,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Paychex during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Paychex stock traded up $0.09 on Friday, reaching $124.46. The company’s stock had a trading volume of 1,209,971 shares, compared to its average volume of 1,860,932. The business’s fifty day moving average price is $122.47 and its 200 day moving average price is $122.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37. Paychex, Inc. has a twelve month low of $106.27 and a twelve month high of $129.92. The company has a market cap of $44.80 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.35 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 26th. The business services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. Paychex had a net margin of 32.03% and a return on equity of 46.63%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, August 8th. Paychex’s payout ratio is 83.94%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a research report on Thursday, June 27th. Barclays reduced their price objective on shares of Paychex from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Monday, July 1st. Robert W. Baird dropped their price target on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Bank of America lifted their price objective on Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, June 27th. Finally, Morgan Stanley lowered their price objective on Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.46.

Insider Activity

In other news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the transaction, the director now owns 5,383 shares of the company’s stock, valued at approximately $674,005.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Martin Mucci sold 101,490 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $117.27, for a total transaction of $11,901,732.30. Following the completion of the sale, the chairman now owns 437,345 shares of the company’s stock, valued at approximately $51,287,448.15. The disclosure for this sale can be found here. Insiders have sold a total of 166,872 shares of company stock valued at $19,992,573 in the last 90 days. 11.50% of the stock is owned by company insiders.

Paychex Profile

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