Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Rogco LP

Rogco LP decreased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 10.2% in the third quarter, HoldingsChannel.com reports. The firm owned 7,553 shares of the business services provider’s stock after selling 857 shares during the quarter. Rogco LP’s holdings in Paychex were worth $1,014,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Paychex by 0.4% during the first quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock worth $3,750,472,000 after buying an additional 123,268 shares during the last quarter. Capital International Investors grew its stake in Paychex by 12.8% during the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock worth $2,563,853,000 after purchasing an additional 2,373,894 shares in the last quarter. Capital World Investors grew its holdings in Paychex by 155.6% during the 1st quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock worth $304,338,000 after acquiring an additional 1,508,681 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Paychex by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after buying an additional 384,184 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Paychex by 57.2% during the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after purchasing an additional 793,468 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America raised their price objective on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday, June 27th. Royal Bank of Canada upped their price target on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Barclays raised their target price on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Citigroup raised their price objective on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $130.77.

Paychex Stock Performance

Shares of PAYX traded up $0.42 during mid-day trading on Thursday, hitting $141.85. The stock had a trading volume of 331,405 shares, compared to its average volume of 1,787,412. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $144.17. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $51.06 billion, a PE ratio of 30.28, a PEG ratio of 3.89 and a beta of 1.00. The company’s fifty day simple moving average is $134.36 and its two-hundred day simple moving average is $126.60.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm 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 revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently disclosed 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 is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.76%. Paychex’s dividend payout ratio (DPR) is 83.94%.

Insider Buying and Selling

In other news, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,018,020.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 in the company, valued at approximately $2,018,020.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,223 shares of company stock worth $10,592,156 over the last quarter. 11.50% of the stock is owned by company insiders.

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.