Paychex, Inc. (PAYX) Stake Lessened by Thompson Siegel & Walmsley LLC
Thompson Siegel & Walmsley LLC decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 20.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,754 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Paychex were worth $465,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Paychex by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock worth $1,312,089,000 after buying an additional 589,880 shares during the last quarter. FMR LLC boosted its holdings in shares of Paychex by 6.2% in the 2nd quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock worth $596,514,000 after buying an additional 610,088 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Paychex by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,901,485 shares of the business services provider’s stock worth $473,772,000 after buying an additional 64,254 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Paychex by 3.3% in the 2nd quarter. Royal Bank of Canada now owns 3,081,752 shares of the business services provider’s stock worth $175,475,000 after buying an additional 97,170 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Paychex by 2.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,191,736 shares of the business services provider’s stock worth $124,797,000 after buying an additional 57,610 shares during the last quarter. Hedge funds and other institutional investors own 67.65% of the company’s stock.
In other news, VP Jennifer R. Vossler sold 11,155 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $63.07, for a total value of $703,545.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martin Mucci sold 29,786 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $63.17, for a total transaction of $1,881,581.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,395 shares of company stock worth $5,914,383. Insiders own 11.70% of the company’s stock.
PAYX has been the topic of a number of research analyst reports. Bank of America Corporation boosted their price target on shares of Paychex from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Royal Bank Of Canada reissued an “underperform” rating and issued a $57.00 price target (up from $54.00) on shares of Paychex in a report on Wednesday, October 4th. BidaskClub raised shares of Paychex from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $59.00 price target (up from $55.00) on shares of Paychex in a report on Wednesday, October 4th. Finally, Wells Fargo & Company boosted their price target on shares of Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, October 4th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $60.07.
Shares of Paychex, Inc. (NASDAQ PAYX) opened at $64.69 on Friday. Paychex, Inc. has a fifty-two week low of $54.20 and a fifty-two week high of $66.31. The company has a market cap of $23,244.99, a PE ratio of 28.50, a price-to-earnings-growth ratio of 3.51 and a beta of 0.99.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The firm had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. analysts predict that Paychex, Inc. will post 2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Tuesday, October 31st. Paychex’s payout ratio is 87.34%.
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Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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