Paychex, Inc. (NASDAQ:PAYX) Stake Lifted by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,035 shares of the business services provider’s stock after buying an additional 1,048 shares during the period. Paychex makes up 2.5% of Alley Investment Management Company LLC’s portfolio, making the stock its 8th biggest position. Alley Investment Management Company LLC’s holdings in Paychex were worth $18,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of PAYX. Commerzbank Aktiengesellschaft FI increased its stake in Paychex by 1.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock worth $873,000 after buying an additional 85 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Paychex by 3.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 92 shares in the last quarter. Rockland Trust Co. lifted its stake in shares of Paychex by 1.1% in the first quarter. Rockland Trust Co. now owns 9,074 shares of the business services provider’s stock worth $1,114,000 after acquiring an additional 98 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Paychex by 3.2% in the first quarter. KCM Investment Advisors LLC now owns 3,190 shares of the business services provider’s stock worth $392,000 after acquiring an additional 98 shares in the last quarter. Finally, Sfmg LLC boosted its holdings in Paychex by 1.4% in the second quarter. Sfmg LLC now owns 7,151 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity at Paychex

In other Paychex news, VP Mark Anthony Bottini sold 8,954 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total value of $1,106,714.40. Following the completion of the transaction, the vice president now owns 79,232 shares in the company, valued at approximately $9,793,075.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Mark Anthony Bottini sold 8,954 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total value of $1,106,714.40. Following the completion of the transaction, the vice president now owns 79,232 shares of the company’s stock, valued at $9,793,075.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John B. Gibson sold 12,670 shares of Paychex stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $119.53, for a total transaction of $1,514,445.10. Following the sale, the chief executive officer now owns 55,745 shares in the company, valued at $6,663,199.85. The disclosure for this sale can be found here. Insiders have sold a total of 147,163 shares of company stock worth $17,537,817 in the last ninety days. 11.50% of the stock is owned by insiders.

Paychex Stock Down 0.3 %

NASDAQ:PAYX opened at $133.63 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $128.47 and a 200-day moving average of $124.03. The firm has a market capitalization of $48.07 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $137.40.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 26th. The business services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 8th were issued a $0.98 dividend. The ex-dividend date was Thursday, August 8th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.93%. Paychex’s dividend payout ratio (DPR) is presently 83.94%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports 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 upped their price target on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley decreased their price objective on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Bank of America boosted their target price on shares of Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Finally, TD Cowen increased their price target on shares of Paychex from $121.00 to $126.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus price target of $124.08.

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.