Integrated Advisors Network LLC Sells 810 Shares of Paychex, Inc. (NASDAQ:PAYX)

Integrated Advisors Network LLC reduced its position in Paychex, Inc. (NASDAQ:PAYX) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,153 shares of the business services provider’s stock after selling 810 shares during the period. Integrated Advisors Network LLC’s holdings in Paychex were worth $691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased 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 valued at $2,563,853,000 after buying an additional 2,373,894 shares during the period. Capital World Investors increased 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 valued at $304,338,000 after buying an additional 1,508,681 shares during the period. International Assets Investment Management LLC increased its position in shares of Paychex by 38,655.2% during the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock valued at $107,340,000 after buying an additional 797,843 shares during the period. TD Asset Management Inc increased 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 valued at $267,695,000 after buying an additional 793,468 shares during the period. Finally, Nordea Investment Management AB increased 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 valued at $154,263,000 after buying an additional 579,136 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Insider Transactions at Paychex

In other news, Director David J. S. Flaschen sold 14,434 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael E. Gioja sold 26,428 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the transaction, the vice president now owns 14,515 shares in the company, valued at approximately $2,018,020.45. This trade represents 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 accessible through this hyperlink. Also, Director David J. S. Flaschen sold 14,434 shares of the firm’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 $674,005.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,608 shares of company stock worth $9,384,512. Insiders own 11.40% of the company’s stock.

Wall Street Analyst Weigh In

PAYX has been the topic of several analyst reports. Barclays upped their price target on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. UBS Group raised their target price 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. Stifel Nicolaus raised their target price 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. Finally, Citigroup raised their target price on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.77.

Paychex Stock Down 1.5 %

Shares of NASDAQ PAYX opened at $139.33 on Friday. Paychex, Inc. has a one year low of $106.27 and a one year high of $144.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50 day simple moving average is $136.13 and its two-hundred day simple moving average is $127.27. The stock has a market capitalization of $50.14 billion, a P/E ratio of 29.71, a PEG ratio of 3.86 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS 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 last year, the business earned $1.14 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio is 83.58%.

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.