Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,319 shares of the business services provider’s stock after purchasing an additional 154 shares during the quarter. Vontobel Holding Ltd.’s holdings in Paychex were worth $1,519,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of Paychex by 286.0% in the second 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 during the period. ORG Partners LLC increased its stake in shares of Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Paychex in the 2nd quarter worth about $30,000. Chilton Capital Management LLC purchased a new position in Paychex during the first quarter worth approximately $31,000. Finally, ESL Trust Services LLC acquired a new stake in Paychex in the first quarter valued at approximately $31,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Down 0.6 %

Shares of NASDAQ:PAYX opened at $141.53 on Friday. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17. The stock has a market cap of $50.95 billion, a P/E ratio of 30.31, a PEG ratio of 3.91 and a beta of 1.00. The business has a fifty day moving average of $133.36 and a two-hundred day moving average of $126.18. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

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

Paychex Announces Dividend

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 issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.94%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PAYX shares. Citigroup increased their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. UBS Group lifted their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two investment 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 currently has an average rating of “Hold” and a consensus price target of $130.77.

Insider Buying and Selling

In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction 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 sale, the chief financial officer now owns 17,362 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction dated 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 in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the completion of the transaction, the director now owns 5,383 shares in the company, valued at approximately $676,104.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,177 shares of company stock worth $11,698,870. Company insiders own 11.50% of the company’s stock.

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.