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

by · The Markets Daily

Rogco LP decreased its position in Paychex, Inc. (NASDAQ:PAYX – Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,553 shares of the business services provider’s stock after selling 857 shares during the period. Rogco LP’s holdings in Paychex were worth $1,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Paychex by 286.0% during the 2nd 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 lifted its stake in shares of Paychex by 227.6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after buying an additional 173 shares during the last quarter. ESL Trust Services LLC acquired a new stake in shares of Paychex in the first quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in shares of Paychex during the first quarter worth approximately $31,000. Finally, American National Bank increased its holdings in Paychex by 166.7% in the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after buying an additional 180 shares during the period. 83.47% of the stock is owned by institutional investors.

Paychex Price Performance

NASDAQ PAYX traded up $0.42 during trading hours on Thursday, hitting $141.85. The company had a trading volume of 331,405 shares, compared to its average volume of 1,787,412. The firm has a 50 day simple moving average of $134.36 and a 200 day simple moving average of $126.60. The firm has a market capitalization of $51.06 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 3.89 and a beta of 1.00. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $144.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

Paychex (NASDAQ:PAYX – Get Free Report) last announced its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.14 earnings per share. Equities research analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current 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 issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.76%. Paychex’s dividend payout ratio (DPR) is 83.94%.

Insiders Place Their Bets

In other news, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the transaction, the vice president now owns 14,515 shares in the company, valued at $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the transaction, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,223 shares of company stock worth $10,592,156. 11.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PAYX. Bank of America boosted their price target on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, June 27th. Citigroup boosted their price target on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Stifel Nicolaus raised their target price on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. UBS Group raised their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $130.77.

Get Our Latest Analysis on Paychex

Paychex Profile

(Free Report)

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.

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