Paychex, Inc. (NASDAQ:PAYX) Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 45.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,329 shares of the business services provider’s stock after buying an additional 22,457 shares during the quarter. Pacer Advisors Inc.’s holdings in Paychex were worth $8,575,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after buying an additional 163 shares in the last quarter. ORG Partners LLC boosted its stake in Paychex by 227.6% during the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. ESL Trust Services LLC bought a new position in Paychex during the first quarter valued at about $31,000. Chilton Capital Management LLC bought a new position in Paychex during the first quarter valued at about $31,000. Finally, American National Bank boosted its position in shares of 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 purchasing an additional 180 shares during the period. Institutional investors own 83.47% of the company’s stock.

Insider Buying and Selling

In related news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the sale, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the sale, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John B. Gibson sold 12,670 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $119.53, for a total value of $1,514,445.10. Following the completion of the sale, the chief executive officer now owns 55,745 shares of the company’s stock, valued at $6,663,199.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,163 shares of company stock worth $17,537,817. 11.50% of the stock is currently owned by insiders.

Paychex Stock Up 0.6 %

Shares of Paychex stock opened at $134.06 on Tuesday. The firm has a market cap of $48.26 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 3.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.37 and a quick ratio of 1.37. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $137.40. The stock has a 50-day simple moving average of $128.28 and a 200-day simple moving average of $123.94.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. On average, equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 8th were issued a $0.98 dividend. The ex-dividend date was Thursday, August 8th. This represents a $3.92 annualized dividend and a yield of 2.92%. Paychex’s dividend payout ratio (DPR) is currently 83.94%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PAYX shares. Robert W. Baird decreased their price target on Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. TD Cowen increased their price target on Paychex from $121.00 to $126.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Bank of America increased their price target on Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, Paychex has a consensus rating of “Hold” and an average price target of $124.08.

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.