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

Baxter Bros Inc. decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,050 shares of the business services provider’s stock after selling 2,049 shares during the quarter. Paychex comprises approximately 1.8% of Baxter Bros Inc.’s 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.

Several other institutional investors have also recently made changes to their positions in the stock. Capital International Investors boosted its position in shares of Paychex by 12.8% in 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 acquiring an additional 2,373,894 shares during the period. Capital World Investors boosted its holdings in Paychex by 155.6% in 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 purchasing an additional 1,508,681 shares during the period. International Assets Investment Management LLC grew its position in shares of Paychex by 38,655.2% during the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock valued at $107,340,000 after purchasing an additional 797,843 shares in the last quarter. TD Asset Management Inc increased 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 purchasing an additional 793,468 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Paychex by 85.1% in the first quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock worth $154,263,000 after buying an additional 579,136 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.2 %

Shares of PAYX stock opened at $139.09 on Friday. The business has a 50-day moving average of $136.31 and a 200 day moving average of $127.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. Paychex, Inc. has a 1-year low of $108.58 and a 1-year high of $144.17. The stock has a market capitalization of $50.06 billion, a PE ratio of 29.66, a P/E/G ratio of 3.83 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The company also recently disclosed 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s payout ratio is 83.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PAYX shares. Morgan Stanley upped their target price on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. UBS Group lifted their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $130.77.

Insider Activity

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

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.