Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Pure Financial Advisors LLC

Pure Financial Advisors LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,005 shares of the business services provider’s stock after buying an additional 113 shares during the period. Pure Financial Advisors LLC’s holdings in Paychex were worth $403,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank increased its position in Paychex by 8.3% during the second quarter. Czech National Bank now owns 61,049 shares of the business services provider’s stock worth $7,238,000 after buying an additional 4,703 shares during the period. HBK Sorce Advisory LLC increased its position in Paychex by 4.9% during the first quarter. HBK Sorce Advisory LLC now owns 10,250 shares of the business services provider’s stock worth $1,259,000 after buying an additional 477 shares during the period. Sei Investments Co. increased its position in Paychex by 5.8% during the first quarter. Sei Investments Co. now owns 110,113 shares of the business services provider’s stock worth $13,522,000 after buying an additional 6,033 shares during the period. BDF Gestion purchased a new position in shares of Paychex in the 2nd quarter valued at approximately $2,796,000. Finally, PGGM Investments grew its stake in shares of Paychex by 57.7% in the 2nd quarter. PGGM Investments now owns 21,703 shares of the business services provider’s stock valued at $2,573,000 after purchasing an additional 7,943 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. UBS Group lifted their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lifted their price target on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $130.77.

Insider Activity at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of the company’s 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 directly 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 document filed with the SEC, which can be accessed through the SEC website. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the company’s 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 sale, the vice president now owns 14,515 shares of the company’s stock, valued at $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Stock Performance

NASDAQ PAYX opened at $139.09 on Monday. Paychex, Inc. has a fifty-two week low of $108.58 and a fifty-two week high of $144.17. The stock has a market cap of $50.06 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99. The business has a fifty day moving average of $136.31 and a 200-day moving average of $127.49. 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 (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business’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 posted $1.14 earnings per share. As a group, analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.82%. Paychex’s payout ratio is currently 83.58%.

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.