Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1,155.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,303 shares of the business services provider’s stock after buying an additional 3,040 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Paychex were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. OFI Invest Asset Management acquired a new position in Paychex during the third quarter worth about $26,000. Carmel Capital Partners LLC purchased a new stake in shares of Paychex in the third quarter valued at about $28,000. Larson Financial Group LLC lifted its holdings in shares of Paychex by 91.5% in the third quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. Fortis Group Advisors LLC purchased a new stake in shares of Paychex in the third quarter valued at about $34,000. Finally, Gradient Investments LLC lifted its holdings in shares of Paychex by 39.8% in the third quarter. Gradient Investments LLC now owns 351 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a report on Wednesday, April 3rd. Evercore ISI reaffirmed an “in-line” rating and issued a $118.00 price target on shares of Paychex in a report on Tuesday, March 26th. TD Cowen reduced their price target on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Bank of America upped their price objective on shares of Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a research note on Wednesday, April 3rd. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of Paychex in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.00.

Paychex Price Performance

Paychex stock opened at $118.81 on Wednesday. Paychex, Inc. has a 52-week low of $104.09 and a 52-week high of $129.70. The firm has a fifty day moving average of $121.77 and a 200-day moving average of $120.41. The firm has a market capitalization of $42.77 billion, a P/E ratio of 25.88, a PEG ratio of 3.41 and a beta of 0.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. As a group, analysts predict that Paychex, Inc. will post 4.71 EPS for the current year.

Paychex announced that its board has authorized a share buyback plan on Friday, January 19th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Paychex 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, 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.