1,511 Shares in Paychex, Inc. (NASDAQ:PAYX) Purchased by BSW Wealth Partners

BSW Wealth Partners purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,511 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norden Group LLC acquired a new stake in shares of Paychex in the first quarter valued at approximately $231,000. Whittier Trust Co. of Nevada Inc. boosted its position in Paychex by 17.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,558 shares of the business services provider’s stock worth $683,000 after purchasing an additional 817 shares during the period. Commerce Bank increased its holdings in shares of Paychex by 1.3% in the first quarter. Commerce Bank now owns 106,645 shares of the business services provider’s stock valued at $13,096,000 after purchasing an additional 1,345 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Paychex by 2.5% in the first quarter. Chevy Chase Trust Holdings LLC now owns 209,472 shares of the business services provider’s stock valued at $25,723,000 after purchasing an additional 5,080 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Paychex by 201.7% during the 1st quarter. Larson Financial Group LLC now owns 528 shares of the business services provider’s stock worth $65,000 after buying an additional 353 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Robert L. Schrader sold 13,015 shares of the firm’s 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 of the company’s stock, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the sale, the vice president now directly owns 14,515 shares in the company, valued at $2,018,020.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,174 shares of company stock valued at $7,577,231. 11.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PAYX shares. JPMorgan Chase & Co. upped their price target on shares of Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Barclays increased their target price on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. TD Cowen upped their price objective on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. UBS Group increased their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Two equities 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, the company currently has a consensus rating of “Hold” and an average target price of $130.77.

Paychex Stock Performance

Shares of Paychex stock opened at $139.68 on Tuesday. The company has a 50 day moving average of $136.50 and a 200-day moving average of $127.64. The company has a market cap of $50.27 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 1-year low of $109.98 and a 1-year high of $144.17.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a $0.98 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.81%. Paychex’s dividend payout ratio is currently 83.58%.

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.