Nisa Investment Advisors LLC Has $14.75 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Nisa Investment Advisors LLC cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,894 shares of the business services provider’s stock after selling 4,283 shares during the period. Nisa Investment Advisors LLC’s holdings in Paychex were worth $14,747,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Paychex by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock worth $3,750,472,000 after buying an additional 123,268 shares during the period. Capital International Investors lifted its position in shares of Paychex by 12.8% in the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock worth $2,563,853,000 after purchasing an additional 2,373,894 shares during the period. Capital World Investors lifted its position in shares of Paychex by 155.6% in the 1st quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock worth $304,338,000 after purchasing an additional 1,508,681 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Paychex by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock worth $279,351,000 after purchasing an additional 384,184 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Paychex by 57.2% in the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after purchasing an additional 793,468 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

NASDAQ PAYX opened at $141.87 on Wednesday. The company has a market cap of $51.06 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $144.17. 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’s 50-day simple moving average is $135.61 and its two-hundred day simple moving average is $127.09.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAYX. JPMorgan Chase & Co. boosted their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Barclays lifted their price objective on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. UBS Group lifted their price objective on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $130.77.

Insider Activity

In other news, Director David J. S. Flaschen sold 14,434 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the sale, the director now directly owns 5,383 shares in the company, valued at $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Robert L. Schrader sold 13,015 shares of the company’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 transaction, the chief financial officer now directly owns 17,362 shares in the company, valued at approximately $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. S. Flaschen sold 14,434 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the transaction, the director now owns 5,383 shares in the company, valued at approximately $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,608 shares of company stock worth $9,384,512 over the last ninety days. Company insiders own 11.40% of the company’s stock.

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.