Tompkins Financial Corp Has $1.68 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Tompkins Financial Corp lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,533 shares of the business services provider’s stock after selling 214 shares during the quarter. Tompkins Financial Corp’s holdings in Paychex were worth $1,682,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Paychex by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock valued at $3,750,472,000 after buying an additional 123,268 shares during the last quarter. Capital International Investors boosted its holdings 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 acquiring an additional 2,373,894 shares during the period. Capital World Investors boosted its holdings in Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after acquiring an additional 1,508,681 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Paychex by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after purchasing an additional 384,184 shares during the last quarter. Finally, TD Asset Management Inc increased its stake 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. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Paychex stock traded up $2.01 during trading hours on Friday, hitting $148.57. 2,022,161 shares of the stock were exchanged, compared to its average volume of 1,458,583. The stock has a market capitalization of $53.47 billion, a P/E ratio of 31.68, a P/E/G ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. Paychex, Inc. has a 12 month low of $113.70 and a 12 month high of $149.26. The business’s 50-day moving average is $137.75 and its two-hundred day moving average is $128.25.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results 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. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. Equities research analysts expect that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

The business 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 dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.64%. Paychex’s dividend payout ratio (DPR) is 83.58%.

Insiders Place Their Bets

In other news, CFO Robert L. Schrader sold 13,015 shares of the company’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 transaction of $1,852,685.25. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the completion of the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,020,197.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,174 shares of company stock valued at $7,577,231 in the last 90 days. 11.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of research analyst reports. Citigroup raised their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted 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. TD Cowen increased their price target on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. UBS Group boosted their price objective on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and a consensus price target of $130.77.

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.