Kohmann Bosshard Financial Services LLC Sells 182 Shares of Paychex, Inc. (NASDAQ:PAYX)

Kohmann Bosshard Financial Services LLC lessened its stake in Paychex, Inc. (NASDAQ:PAYX) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,650 shares of the business services provider’s stock after selling 182 shares during the period. Kohmann Bosshard Financial Services LLC’s holdings in Paychex were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Czech National Bank increased its position in Paychex by 8.3% during the 2nd quarter. Czech National Bank now owns 61,049 shares of the business services provider’s stock valued at $7,238,000 after purchasing an additional 4,703 shares during the period. Nordea Investment Management AB raised its holdings 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 purchasing an additional 579,136 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Paychex in the 4th quarter valued at about $774,000. HBK Sorce Advisory LLC lifted its holdings in Paychex by 4.9% in the first quarter. HBK Sorce Advisory LLC now owns 10,250 shares of the business services provider’s stock valued at $1,259,000 after acquiring an additional 477 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Paychex by 5.8% in the 1st quarter. Sei Investments Co. now owns 110,113 shares of the business services provider’s stock valued at $13,522,000 after purchasing an additional 6,033 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PAYX. Bank of America upped their target price on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Barclays boosted their target price on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada raised their target price on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price target on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $130.77.

Paychex Stock Down 0.6 %

Shares of Paychex stock opened at $141.53 on Friday. The company has a market capitalization of $50.94 billion, a P/E ratio of 30.18, a P/E/G ratio of 3.91 and a beta of 1.00. The company has a 50 day moving average of $133.36 and a 200 day moving average of $126.15. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results 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. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. Paychex’s dividend payout ratio is presently 83.58%.

Insider Transactions at Paychex

In related news, VP Mark Anthony Bottini sold 8,954 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was 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 $9,793,075.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Paychex 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 value of $1,852,685.25. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. Also, VP Mark Anthony Bottini sold 8,954 shares of the firm’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,177 shares of company stock worth $11,698,870. Insiders own 11.40% of the company’s stock.

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.