Paychex, Inc. (NASDAQ:PAYX) Holdings Trimmed by Simmons Bank

Simmons Bank lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,089 shares of the business services provider’s stock after selling 188 shares during the quarter. Simmons Bank’s holdings in Paychex were worth $1,370,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PAYX. BlackRock Inc. raised its stake in Paychex by 12.3% during the 1st quarter. BlackRock Inc. now owns 31,465,698 shares of the business services provider’s stock valued at $2,523,549,000 after acquiring an additional 3,435,500 shares during the last quarter. Vanguard Group Inc increased its stake in Paychex by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 25,237,021 shares of the business services provider’s stock valued at $1,858,708,000 after purchasing an additional 363,583 shares in the last quarter. Lunia Capital LP increased its stake in Paychex by 8,881.0% in the 4th quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock valued at $10,859,000 after purchasing an additional 10,738,096 shares in the last quarter. Northern Trust Corp increased its stake in Paychex by 1.8% in the 4th quarter. Northern Trust Corp now owns 5,558,975 shares of the business services provider’s stock valued at $362,167,000 after purchasing an additional 96,260 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Paychex by 5,734.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,458,853 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 5,365,298 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $80.54, for a total value of $805,400.00. Following the transaction, the vice president now directly owns 31,701 shares of the company’s stock, valued at $2,553,198.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laurie L. Zaucha sold 5,534 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $80.89, for a total value of $447,645.26. Following the completion of the transaction, the vice president now directly owns 43,955 shares in the company, valued at $3,555,519.95. The disclosure for this sale can be found here. Insiders sold a total of 135,127 shares of company stock worth $11,173,791 over the last ninety days. Corporate insiders own 11.80% of the company’s stock.

PAYX has been the subject of several research analyst reports. Bank of America downgraded Paychex from a “neutral” rating to an “underperform” rating in a research note on Wednesday. They noted that the move was a valuation call. Sanford C. Bernstein downgraded Paychex from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 30th. BidaskClub cut Paychex from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Credit Suisse Group increased their target price on Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, William Blair reiterated a “market perform” rating on shares of Paychex in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Paychex currently has an average rating of “Hold” and an average price target of $75.08.

PAYX stock opened at $82.29 on Friday. Paychex, Inc. has a 52-week low of $61.32 and a 52-week high of $88.43. The business’s fifty day simple moving average is $86.02. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $29.55 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. As a group, sell-side analysts forecast that Paychex, Inc. will post 3.09 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were given a $0.62 dividend. This is a positive change from Paychex’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Tuesday, May 14th. Paychex’s dividend payout ratio (DPR) is 87.32%.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company 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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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