Baxter Bros Inc. Sells 2,049 Shares of Paychex, Inc. (NASDAQ:PAYX)

Baxter Bros Inc. lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,050 shares of the business services provider’s stock after selling 2,049 shares during the quarter. Paychex accounts for about 1.8% of Baxter Bros Inc.’s investment portfolio, making the stock its 17th biggest holding. Baxter Bros Inc.’s holdings in Paychex were worth $13,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors lifted its position in Paychex by 12.8% during the first quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after purchasing an additional 2,373,894 shares during the period. Capital World Investors lifted its holdings in shares of Paychex by 155.6% during the 1st quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after buying an additional 1,508,681 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after buying an additional 797,843 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Paychex by 57.2% in the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after acquiring an additional 793,468 shares during the period. Finally, Nordea Investment Management AB increased its position in Paychex by 85.1% during the first quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock valued at $154,263,000 after acquiring an additional 579,136 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PAYX. Royal Bank of Canada raised their target price on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on shares of Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. UBS Group upped their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley boosted their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Paychex presently has an average rating of “Hold” and an average price target of $130.77.

Insiders Place Their Bets

In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the sale, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the transaction, the director now owns 5,383 shares of the company’s stock, valued at $674,005.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,608 shares of company stock valued at $9,384,512 over the last ninety days. 11.40% of the stock is owned by insiders.

Paychex Price Performance

PAYX stock opened at $139.09 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average price is $136.31 and its 200-day moving average price is $127.43. Paychex, Inc. has a one year low of $108.58 and a one year high of $144.17. The company has a market capitalization of $50.06 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data 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. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared 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 dividend yield of 2.82%. The ex-dividend date is Thursday, November 7th. Paychex’s payout ratio is 83.58%.

Paychex Company Profile

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.