Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,904 shares of the business services provider’s stock after selling 2,834 shares during the period. Atria Investments Inc’s holdings in Paychex were worth $6,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ESL Trust Services LLC acquired a new position in shares of Paychex in the first quarter worth about $31,000. Chilton Capital Management LLC purchased a new position in Paychex during the 1st quarter worth approximately $31,000. Clear Investment Research LLC raised its stake in Paychex by 55.8% during the 4th quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 110 shares during the period. Tidemark LLC purchased a new stake in shares of Paychex in the fourth quarter valued at $40,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Paychex in the fourth quarter worth $40,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity at Paychex

In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of Paychex stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $124.55, for a total value of $2,454,755.95. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Paychex news, CEO John B. Gibson sold 12,670 shares of the company’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 transaction, the chief executive officer now owns 55,745 shares of the company’s stock, valued at approximately $6,663,199.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David J. S. Flaschen sold 19,709 shares of Paychex stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $124.55, for a total value of $2,454,755.95. Following the sale, the director now directly owns 5,383 shares in the company, valued at approximately $670,452.65. The disclosure for this sale can be found here. Insiders sold a total of 152,438 shares of company stock worth $18,185,292 in the last 90 days. 11.50% of the stock is owned by company insiders.

Paychex Stock Up 0.6 %

Shares of NASDAQ PAYX traded up $0.79 during mid-day trading on Friday, reaching $127.28. 2,415,604 shares of the company traded hands, compared to its average volume of 1,943,847. The company’s fifty day moving average is $122.07 and its two-hundred day moving average is $122.08. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $129.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $45.84 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00.

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Thursday, August 8th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 8th. This represents a $3.92 annualized dividend and a dividend yield of 3.08%. Paychex’s dividend payout ratio is presently 83.94%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAYX. Bank of America increased their price objective on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Robert W. Baird decreased their price target on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Barclays lowered their price objective on shares of Paychex from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Monday, July 1st. Morgan Stanley cut their target price on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $130.00 price target on shares of Paychex in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $122.46.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.