Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in Paychex, Inc. (NASDAQ:PAYX) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,506 shares of the business services provider’s stock after selling 4,052 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Paychex worth $33,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after acquiring an additional 163 shares during the period. ORG Partners LLC boosted its stake in Paychex by 227.6% during the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Paychex during the 1st quarter valued at $31,000. Chilton Capital Management LLC bought a new stake in shares of Paychex in the 1st quarter worth $31,000. Finally, American National Bank lifted its holdings in shares of Paychex by 166.7% in the second quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after buying an additional 180 shares during the period. Institutional investors own 83.47% of the company’s stock.

Insider Activity

In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction 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 approximately $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 accessible through the SEC website. In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 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 filing with the SEC, which is accessible through this link. Also, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the sale, the vice president now owns 79,232 shares of the company’s stock, valued at $9,793,075.20. 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 87,177 shares of company stock worth $11,698,870 in the last ninety days. Corporate insiders own 11.50% of the company’s stock.

Paychex Stock Down 0.3 %

NASDAQ:PAYX opened at $141.09 on Tuesday. The business’s fifty day moving average price is $133.71 and its 200 day moving average price is $126.37. The firm has a market capitalization of $50.79 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.91 and a beta of 1.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $144.17.

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

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is currently 83.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PAYX shares. Bank of America boosted their price target 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. Barclays boosted their target price on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Jefferies Financial Group raised their target price on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen upped their price target on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup raised their price objective on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $130.77.

Paychex Company 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.