Mawer Investment Management Ltd. Has $72.99 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Mawer Investment Management Ltd. boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 8.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 886,961 shares of the business services provider’s stock after acquiring an additional 71,360 shares during the period. Mawer Investment Management Ltd.’s holdings in Paychex were worth $72,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PAYX. Glassman Wealth Services raised its position in shares of Paychex by 125.0% in the 1st quarter. Glassman Wealth Services now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 170 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings in Paychex by 64.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 310 shares of the business services provider’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Ellevest Inc. bought a new stake in Paychex during the 1st quarter worth approximately $27,000. Manchester Financial Inc. bought a new stake in Paychex during the 2nd quarter worth approximately $29,000. Finally, Covenant Multifamily Offices LLC bought a new stake in Paychex during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 70.84% of the company’s stock.

Shares of NASDAQ:PAYX traded down $1.49 during trading on Friday, reaching $80.75. The stock had a trading volume of 345,948 shares, compared to its average volume of 1,727,403. The firm’s fifty day moving average is $84.19 and its 200 day moving average is $82.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. Paychex, Inc. has a 52 week low of $61.32 and a 52 week high of $88.43. The stock has a market cap of $29.45 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 2.95 and a beta of 0.86.



Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). Paychex had a net margin of 27.42% and a return on equity of 40.99%. The firm had revenue of $980.40 million during the quarter, compared to the consensus estimate of $978.94 million. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Paychex, Inc. will post 3.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, July 31st. Paychex’s dividend payout ratio is currently 87.32%.

In related news, VP Robert L. Schrader sold 609 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $83.88, for a total transaction of $51,082.92. Following the transaction, the vice president now owns 9,166 shares in the company, valued at approximately $768,844.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin Mucci sold 19,759 shares of the business’s stock in a transaction on Saturday, July 6th. The shares were sold at an average price of $85.31, for a total transaction of $1,685,640.29. Following the transaction, the chief executive officer now owns 280,170 shares in the company, valued at approximately $23,901,302.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,996 shares of company stock worth $4,763,436. Insiders own 11.80% of the company’s stock.

A number of equities research analysts have weighed in on PAYX shares. BidaskClub raised shares of Paychex from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. William Blair reissued a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Bank of America lowered shares of Paychex from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. They noted that the move was a valuation call. Sanford C. Bernstein lowered shares of Paychex from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley lowered shares of Paychex from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $77.00 to $74.00 in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $76.20.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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