Robeco Institutional Asset Management B.V. Sells 8,206 Shares of Paychex, Inc. (NASDAQ:PAYX)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 11.7% during the third quarter, HoldingsChannel.com reports. The fund owned 62,050 shares of the business services provider’s stock after selling 8,206 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Paychex were worth $8,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PAYX. Capital International Investors raised its stake in Paychex by 12.8% during the 1st 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 last quarter. Capital World Investors increased its position in 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 acquiring an additional 1,508,681 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Paychex by 38,655.2% in 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 acquiring an additional 797,843 shares during the period. TD Asset Management Inc boosted its position in Paychex by 57.2% in 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 purchasing an additional 793,468 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of Paychex by 30.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,676,521 shares of the business services provider’s stock valued at $205,877,000 after purchasing an additional 395,343 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 54,174 shares of company stock worth $7,577,231. 11.40% of the stock is currently owned by insiders.

Paychex Price Performance

PAYX stock opened at $146.56 on Friday. The company has a market capitalization of $52.75 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 3.84 and a beta of 0.99. The company’s fifty day moving average price is $137.06 and its 200-day moving average price is $127.93. Paychex, Inc. has a one year low of $112.34 and a one year high of $149.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

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. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, equities analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s payout ratio is 83.58%.

Wall Street Analysts Forecast Growth

PAYX has been the topic of a number of research reports. Barclays raised their price objective 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. Morgan Stanley boosted their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen boosted 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, Stifel Nicolaus upped their price target on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $130.77.

About Paychex

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.