Good Life Advisors LLC Acquires 986 Shares of Paychex, Inc. (NASDAQ:PAYX)

Good Life Advisors LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 31.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,142 shares of the business services provider’s stock after acquiring an additional 986 shares during the period. Good Life Advisors LLC’s holdings in Paychex were worth $556,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PAYX. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Paychex by 6.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 33,186 shares of the business services provider’s stock valued at $4,453,000 after purchasing an additional 2,080 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Paychex by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 11,319 shares of the business services provider’s stock worth $1,519,000 after buying an additional 154 shares during the period. Leisure Capital Management increased its position in Paychex by 2.7% during the third quarter. Leisure Capital Management now owns 8,892 shares of the business services provider’s stock valued at $1,193,000 after acquiring an additional 236 shares during the last quarter. Hummer Financial Advisory Services Inc purchased a new stake in shares of Paychex in the third quarter valued at $201,000. Finally, Sumitomo Life Insurance Co. lifted its holdings in shares of Paychex by 53.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 40,700 shares of the business services provider’s stock worth $5,462,000 after acquiring an additional 14,200 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Bank of America raised their price target on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Stifel Nicolaus upped their price objective on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird cut their price target on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Transactions at Paychex

In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paychex news, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,177 shares of company stock valued at $11,698,870 in the last 90 days. Insiders own 11.40% of the company’s stock.

Paychex Stock Performance

Shares of PAYX stock opened at $141.53 on Friday. The company’s 50 day moving average is $133.36 and its 200 day moving average is $126.15. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $50.94 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 3.91 and a beta of 1.00. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is currently 83.58%.

About Paychex

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.