Securian Asset Management Inc Buys 341 Shares of Paychex, Inc. (NASDAQ:PAYX)

Securian Asset Management Inc raised its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,343 shares of the business services provider’s stock after purchasing an additional 341 shares during the quarter. Securian Asset Management Inc’s holdings in Paychex were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in PAYX. FinTrust Capital Advisors LLC raised its stake in shares of Paychex by 64.9% during the first 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 in the last quarter. Glassman Wealth Services raised its stake in shares of Paychex by 125.0% during the first quarter. Glassman Wealth Services now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 170 shares in the last quarter. Ellevest Inc. purchased a new position in shares of Paychex during the first quarter worth approximately $27,000. Manchester Financial Inc. purchased a new position in shares of Paychex during the second quarter worth approximately $29,000. Finally, Covenant Multifamily Offices LLC purchased a new position in shares of Paychex during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 70.84% of the company’s stock.

In other news, 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 sale, the chief executive officer now owns 280,170 shares in the company, valued at approximately $23,901,302.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert L. Schrader sold 751 shares of the business’s stock in a transaction on Saturday, August 3rd. The shares were sold at an average price of $83.89, for a total transaction of $63,001.39. Following the sale, the vice president now owns 9,166 shares in the company, valued at approximately $768,935.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,996 shares of company stock worth $4,763,436. Insiders own 11.80% of the company’s stock.



PAYX has been the topic of several analyst reports. BidaskClub raised shares of Paychex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Bank of America downgraded shares of Paychex from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Sanford C. Bernstein downgraded shares of Paychex from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 30th. William Blair reaffirmed a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. Finally, Morgan Stanley downgraded shares of Paychex from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock 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 given a hold rating and two have issued a buy rating to the stock. Paychex presently has an average rating of “Hold” and a consensus price target of $76.20.

Shares of NASDAQ PAYX traded down $0.62 during mid-day trading on Friday, hitting $81.62. The stock had a trading volume of 1,691 shares, compared to its average volume of 1,727,403. 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 1 year low of $61.32 and a 1 year high of $88.43. The business has a 50 day moving average price of $84.19 and a two-hundred day moving average price of $82.16. The firm has a market cap of $29.45 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, July 31st. Paychex’s payout ratio is currently 87.32%.

Paychex 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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