Honkamp Krueger Financial Services Inc. Boosts Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Honkamp Krueger Financial Services Inc. increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,201 shares of the business services provider’s stock after buying an additional 209 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Paychex were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PAYX. Eqis Capital Management Inc. boosted its stake in Paychex by 2.7% during the 3rd quarter. Eqis Capital Management Inc. now owns 4,686 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 125 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Paychex by 58.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 348 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. Mackay Shields LLC boosted its stake in Paychex by 0.3% during the 3rd quarter. Mackay Shields LLC now owns 52,778 shares of the business services provider’s stock valued at $4,369,000 after purchasing an additional 142 shares during the last quarter. Fulcrum Equity Management boosted its stake in Paychex by 4.7% during the 3rd quarter. Fulcrum Equity Management now owns 3,251 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 145 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in Paychex by 91.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 330 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 69.31% of the company’s stock.

In related news, VP Michael E. Gioja sold 50,088 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $85.74, for a total value of $4,294,545.12. Following the transaction, the vice president now directly owns 70,023 shares of the company’s stock, valued at approximately $6,003,772.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael E. Gioja sold 17,881 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $85.81, for a total value of $1,534,368.61. Following the completion of the transaction, the vice president now directly owns 70,023 shares in the company, valued at $6,008,673.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,021 shares of company stock worth $6,931,808. Company insiders own 11.70% of the company’s stock.

Several analysts have commented on PAYX shares. BidaskClub upgraded Paychex from a “strong sell” rating to a “sell” rating in a research note on Thursday. Robert W. Baird raised their price target on Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Jefferies Financial Group restated a “hold” rating and issued a $84.00 price target on shares of Paychex in a research note on Wednesday, December 18th. Argus restated a “buy” rating and issued a $92.00 price target on shares of Paychex in a research note on Thursday, October 3rd. Finally, Barclays raised their price target on Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.50.

PAYX stock opened at $87.37 on Thursday. The company has a market cap of $30.52 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.92 and a beta of 0.87. Paychex, Inc. has a 1 year low of $67.97 and a 1 year high of $88.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average price is $85.20 and its 200-day moving average price is $83.92.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $990.70 million for the quarter, compared to the consensus estimate of $988.26 million. Paychex had a return on equity of 41.21% and a net margin of 26.72%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, analysts expect that Paychex, Inc. will post 3.11 earnings per share for the current year.

Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, 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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