Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,768 shares of the business services provider’s stock after selling 199 shares during the quarter. Prossimo Advisors LLC’s holdings in Paychex were worth $908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYX. Meeder Asset Management Inc. grew its position in Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC grew its position in Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. ESL Trust Services LLC bought a new position in Paychex in the 1st quarter worth about $31,000. Fortitude Family Office LLC grew its position in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after purchasing an additional 74 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in Paychex in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity at Paychex

In related news, Director David J. S. Flaschen sold 14,434 shares of the company’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 completion of the sale, the director now owns 5,383 shares in the company, valued at approximately $674,005.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paychex news, VP Michael E. Gioja sold 14,731 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the sale, the vice president now owns 14,515 shares in the company, valued at $2,020,197.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the sale, the director now owns 5,383 shares of the company’s stock, valued at approximately $674,005.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,608 shares of company stock worth $9,384,512. 11.40% of the stock is owned by corporate insiders.

Paychex Trading Down 0.2 %

Shares of NASDAQ:PAYX opened at $139.09 on Friday. The stock has a market capitalization of $50.06 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.83 and a beta of 0.99. Paychex, Inc. has a 1-year low of $108.58 and a 1-year high of $144.17. 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 has a 50 day moving average price of $136.31 and a 200 day moving average price of $127.43.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, research analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 annualized dividend and a dividend yield of 2.82%. Paychex’s dividend payout ratio (DPR) is presently 83.58%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. UBS Group upped their target price on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $130.77.

Paychex 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.