Monument Capital Management Buys 170 Shares of Paychex, Inc. (NASDAQ:PAYX)

Monument Capital Management lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,026 shares of the business services provider’s stock after purchasing an additional 170 shares during the quarter. Paychex accounts for approximately 1.5% of Monument Capital Management’s portfolio, making the stock its 18th largest position. Monument Capital Management’s holdings in Paychex were worth $2,894,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quantum Capital Management bought a new position in shares of Paychex during the 3rd quarter worth about $26,000. Vigilant Capital Management LLC bought a new position in shares of Paychex during the 3rd quarter worth about $27,000. Cornerstone Advisors Inc. lifted its holdings in shares of Paychex by 91.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 330 shares of the business services provider’s stock worth $27,000 after acquiring an additional 158 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Paychex by 58.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 348 shares of the business services provider’s stock worth $29,000 after acquiring an additional 128 shares during the period. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Paychex during the 2nd quarter worth about $32,000. 69.31% of the stock is owned by institutional investors.

Shares of Paychex stock traded up $0.36 during mid-day trading on Tuesday, reaching $86.62. 1,491,421 shares of the stock were exchanged, compared to its average volume of 1,244,013. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 3.92 and a beta of 0.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $85.14 and a 200 day simple moving average of $83.87. Paychex, Inc. has a fifty-two week low of $67.30 and a fifty-two week high of $88.43.

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

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Robert W. Baird increased their target price on shares of Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Jefferies Financial Group reiterated a “hold” rating and set a $84.00 target price on shares of Paychex in a research report on Wednesday, December 18th. BidaskClub cut shares of Paychex from a “sell” rating to a “strong sell” rating in a research report on Friday, December 27th. Finally, Argus reiterated a “buy” rating and set a $92.00 target price on shares of Paychex in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Paychex currently has a consensus rating of “Hold” and a consensus target price of $84.50.

In other Paychex news, VP Michael E. Gioja sold 50,088 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $85.74, for a total value of $4,294,545.12. Following the completion of the sale, the vice president now owns 70,023 shares in the company, valued at approximately $6,003,772.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin Mucci sold 31,865 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $84.86, for a total transaction of $2,704,063.90. Following the completion of the sale, the chief executive officer now owns 362,806 shares of the company’s stock, valued at approximately $30,787,717.16. The disclosure for this sale can be found here. Insiders sold a total of 112,886 shares of company stock valued at $9,635,872 in the last 90 days. Corporate insiders own 11.70% of the company’s stock.

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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