True Vision MN LLC Acquires 507 Shares of Paychex, Inc. (NASDAQ:PAYX)

True Vision MN LLC grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 19.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,123 shares of the business services provider’s stock after buying an additional 507 shares during the period. True Vision MN LLC’s holdings in Paychex were worth $419,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. ORG Partners LLC boosted its position in shares of Paychex by 227.6% during the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the period. Quest Partners LLC bought a new stake in Paychex in the 3rd quarter valued at about $36,000. Finally, American National Bank raised its stake in Paychex by 166.7% during the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock worth $34,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PAYX shares. Stifel Nicolaus raised their price objective on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised 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 equities research 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, the company presently has an average rating of “Hold” and an average price target of $131.62.

Insider Buying and Selling at Paychex

In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction 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 $2,471,480.70. This trade represents a 42.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the completion of the sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,020,197.70. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,174 shares of company stock worth $7,577,231 over the last ninety days. 11.40% of the stock is currently owned by company insiders.

Paychex Stock Performance

Shares of Paychex stock traded up $0.27 during trading hours on Wednesday, hitting $146.46. 45,413 shares of the company’s stock traded hands, compared to its average volume of 1,771,066. The stock has a market capitalization of $52.71 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 3.99 and a beta of 0.99. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. 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 company has a fifty day simple moving average of $140.61 and a 200-day simple moving average of $130.37.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Equities research analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is currently 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.