Skip to Content

Daiwa Securities Group Inc. buys 3,813 Paychex, Inc. shares (NASDAQ:PAYX)

Daiwa Securities Group Inc. buys 3,813 Paychex, Inc. shares (NASDAQ:PAYX)

According to the most recent filing that the company made with the Securities and Exchange Commission, during the third quarter of 2018, Daiwa Securities Group Inc. increased its holdings in Paychex, Inc. (NASDAQ: PAYX) (SEC). The institutional investor has 42,781 shares of the business services provider’s common stock after purchasing an additional 3,813 shares during the relevant period. This brings the total number of shares that they own to a total of 42,781. At the end of the most recent reporting period, Paychex was responsible for a total value that was accounted for by Daiwa Securities Group Inc. of $4.8 million.

Other institutional investors have modified the existing proportion of PAYX stock they own. These modifications were made in recent days. Karp Capital Management Corporation increased the value of its holdings by nearly $25,000 during the third quarter by purchasing additional shares of Paychex. The purchase of Paychex occurred during the second quarter, and approximately $26,000 was spent on it by Heritage Financial Services LLC. Heritage has acquired the payment processing company Paychex. Newbridge Financial Services Group Inc. increased the amount of Paychex stock owned by 68.2% over the second quarter of the fiscal year. After making an additional purchase of 116 shares during the period in question, Newbridge Financial Services Group Inc. now has 286 shares of the business services provider’s stock, valued at $33,000. This brings the company’s total number of shares to 286. SRS Capital Advisors Inc. increased the amount of Paychex stock owned by 52.1% during the second quarter of the fiscal year. SRS Capital Advisors Inc. now has 292 shares of the business services provider’s stock, valued at $33,000, after making an additional purchase of 100 shares during the most recent time. This brings the total number of shares owned by the company to 292. Last but not least, during the second quarter, Investors Asset Management of Georgia Inc. (GA ADV) paid approximately $34,000 to acquire a new stake in Paychex. Currently, 71.14% of the company’s shares are held by hedge funds and various other institutional investors.

In other Paychex-related news, Vice President Michael E. Gioja sold 13,744 shares of the company’s stock on December 28. The transaction was reported on the same day. The shares were acquired for a total cost of $1,584,683.20, which works out to a price of $115.30 per share on an average basis. As a direct result of the transaction, the company’s vice president now owns 33,268 shares of the company’s stock. The total value of these shares is $3,835,800.40. The company’s insiders currently hold 11.50% of the company’s stock, as stated in a legal filing that was made with the Securities and Exchange Commission and which can be viewed by following this link.

PAYX has been the primary topic of investigation for the vast majority of recent research. Paychex now has an “outperform” rating from Cowen, and the brokerage firm has increased its price objective for the company’s stock from $125.00 to $132.00. A research note published on September 29 and September 29 made mention of both of these alterations in its introduction. Robert W. Baird increased their price objective on Paychex stock to $134.00 and announced it in a research note published on Wednesday, October 5. In a research report, Moffett Nathanson disclosed to investors on Friday, December 2, that they had raised their price objective on Paychex stock to $130.00. The report was released on Friday. Credit Suisse Group lowered their price objective on Paychex shares from $150.00 to $138.00 while maintaining their “outperform” rating on the company in a research note published on September 29 and 29.

Last but not least, on Thursday, December 22, Jefferies Financial Group assigned Paychex a rating of “hold” and lowered its price objective for the stock from $130.00 to $120.00. This was the company’s first move since the previous day’s rating of “buy.” There was a reduction in the price target that took place. Two of the eight equity research analysts recommended selling the stock; seven of the analysts polled stated that investors should maintain their current position; and three of the experts stated that investors should purchase the stock. The analysts working for Bloomberg have given the company an average rating of “Hold” as of right now, and the price target of $124.08 per share has been decided upon by the community as the price goal to shoot for.

Thursday was the first-day trading could begin on the NASDAQ PAYX, and the opening price was $117.23. The company has a market capitalization of $42.22 billion, a price-to-earnings (PE) ratio of 28.95, a price-to-earnings-to-growth (P/E/G) ratio of 3.77, and a beta coefficient of 0.98. Paychex, Inc. reached a one-year low of $105.66 and a one-year high of $141.92 during the past year. The fifty-day simple moving average for the company is $119.28, and the 200-day simple moving average for the company is $120.25. The ratio of total assets to current assets is 1.30; the ratio of quick assets to current assets is 1.30; and the ratio of debt to equity is 0.25.

On December 22 December 22, Paychex (NASDAQ: PAYX) released its most recent earnings report to the public. Paychex is a payroll and human resources company. The company that provides business services reported earnings per share for the quarter of $0.99, which was $0.04 more than the average expectation of $0.95. The company’s revenue for the quarter was also $0.99 million. Despite predictions made by analysts that the company would bring in $1.18 billion in revenue during the quarter, the company was only able to bring in $1.17 billion in revenue overall. Paychex disclosed its financial metrics as having a net margin of 30.45 percent and a return on equity of 45.5 percent. During that period, Paychex’s revenue increased by 5.4% compared to the previous year’s total. In the same period as the previous year, the corporation made a profit of $0.91 per share of common stock. Sell-side analysts anticipate that Paychex, Inc. will bring in $4.26 per share earnings throughout the fiscal year.

Paychex, Inc. offers comprehensive solutions for the management of human capital to companies of a size that is suitable for small to medium operations in the United States of America, Europe, and India. The areas of human resources (HR), payroll, benefits, and insurance are covered by these solutions. This company provides a variety of services, some of which include processing payroll, the administration of payroll taxes, the payment of employees, and services for regulatory compliance, such as the processing of garnishments and the reporting of new hires.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *