Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,333 shares of the business services provider’s stock after purchasing an additional 674 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Paychex were worth $5,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its position in Paychex by 286.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 163 shares during the period. ORG Partners LLC boosted its position 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 during the period. ESL Trust Services LLC acquired a new position in Paychex during the 1st quarter valued at approximately $31,000. Chilton Capital Management LLC acquired a new position in Paychex during the 1st quarter valued at approximately $31,000. Finally, American National Bank boosted its position in Paychex by 166.7% during the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Transactions at Paychex

In other news, CEO John B. Gibson sold 12,670 shares of the business’s stock in a transaction on Monday, July 15th. The stock was 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 directly owns 55,745 shares of the company’s stock, valued at $6,663,199.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO John B. Gibson sold 12,670 shares of Paychex stock in a transaction on Monday, July 15th. The stock was sold at an average price of $119.53, for a total transaction of $1,514,445.10. Following the transaction, the chief executive officer now owns 55,745 shares in the company, valued at $6,663,199.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction on 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 transaction, the vice president now owns 79,232 shares in the company, valued at approximately $9,793,075.20. The disclosure for this sale can be found here. Insiders have sold 45,673 shares of company stock valued at $5,636,085 over the last three months. Company insiders own 11.50% of the company’s stock.

Paychex Stock Down 0.0 %

PAYX opened at $140.76 on Thursday. Paychex, Inc. has a one year low of $106.27 and a one year high of $142.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s fifty day moving average is $129.88 and its 200-day moving average is $124.60. The company has a market capitalization of $50.64 billion, a PE ratio of 30.14, a P/E/G ratio of 3.52 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 46.63% and a net margin of 32.03%. Paychex’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, equities analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 8th were given 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 was Thursday, August 8th. Paychex’s dividend payout ratio (DPR) is presently 83.94%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday. Citigroup lifted their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. TD Cowen lifted their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays lifted their target price on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $130.71.

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.