Global Retirement Partners LLC Sells 960 Shares of Paychex, Inc. (NASDAQ:PAYX)

Global Retirement Partners LLC decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,717 shares of the business services provider’s stock after selling 960 shares during the quarter. Global Retirement Partners LLC’s holdings in Paychex were worth $1,841,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its position in shares of Paychex by 8.3% during the 2nd quarter. Czech National Bank now owns 61,049 shares of the business services provider’s stock valued at $7,238,000 after acquiring an additional 4,703 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Paychex by 85.1% during the 1st quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock valued at $154,263,000 after acquiring an additional 579,136 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Paychex during the 4th quarter valued at about $774,000. HBK Sorce Advisory LLC boosted its position in shares of Paychex by 4.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 10,250 shares of the business services provider’s stock valued at $1,259,000 after acquiring an additional 477 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Paychex by 5.8% during the 1st quarter. Sei Investments Co. now owns 110,113 shares of the business services provider’s stock valued at $13,522,000 after acquiring an additional 6,033 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the company’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 completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. This 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 is accessible through the SEC website. Also, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,177 shares of company stock valued at $11,698,870 over the last ninety days. Insiders own 11.40% of the company’s stock.

Paychex Trading Down 0.6 %

PAYX opened at $141.53 on Friday. 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 market cap of $50.94 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 3.91 and a beta of 1.00. The firm has a 50 day simple moving average of $133.36 and a 200 day simple moving average of $126.15. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $144.17.

Paychex (NASDAQ:PAYX) last posted 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 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%. Paychex’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. On average, sell-side analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is 83.58%.

Analysts Set New Price Targets

A number of research firms have commented on PAYX. Royal Bank of Canada boosted their price target on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Barclays boosted their price target on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. Stifel Nicolaus boosted their price target on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their price target on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $130.77.

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.