Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,729 shares of the business services provider’s stock after selling 383 shares during the quarter. Signaturefd LLC’s holdings in Paychex were worth $1,171,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Capital International Investors grew its position in shares of Paychex by 12.8% during the first quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock worth $2,563,853,000 after buying an additional 2,373,894 shares in the last quarter. Capital World Investors grew its position in shares of Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock worth $304,338,000 after buying an additional 1,508,681 shares in the last quarter. TD Asset Management Inc grew its position in shares of Paychex by 57.2% during the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after buying an additional 793,468 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Paychex by 85.1% during the first quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock worth $154,263,000 after buying an additional 579,136 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Paychex by 30.9% during the first quarter. Epoch Investment Partners Inc. now owns 1,676,521 shares of the business services provider’s stock worth $205,877,000 after buying an additional 395,343 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays raised their price objective on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. Bank of America raised their price objective on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Robert W. Baird reduced their price objective on Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, TD Cowen raised their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Activity at Paychex

In related news, Director David J. S. Flaschen sold 9,615 shares of Paychex stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the sale, the director now directly owns 5,383 shares in the company, valued at $676,104.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David J. S. Flaschen sold 9,615 shares of Paychex stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at $676,104.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael E. Gioja sold 26,428 shares of Paychex stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the transaction, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,018,020.45. The trade was 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 78,223 shares of company stock worth $10,592,156 over the last ninety days. 11.50% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

PAYX stock opened at $141.43 on Thursday. Paychex, Inc. has a 1 year low of $106.27 and a 1 year high of $144.17. The stock’s fifty day moving average is $134.36 and its two-hundred day moving average is $126.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $50.91 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 3.89 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data 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. 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 analysts’ expectations of $1.31 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 2.77%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio is currently 83.94%.

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.