Schroder Investment Management Group Sells 114,817 Shares of Paychex, Inc. (NASDAQ:PAYX)

Schroder Investment Management Group reduced its stake in Paychex, Inc. (NASDAQ:PAYXFree Report) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,354 shares of the business services provider’s stock after selling 114,817 shares during the quarter. Schroder Investment Management Group owned about 0.09% of Paychex worth $39,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Ethos Financial Group LLC lifted its position in Paychex by 4.6% in the 4th quarter. Ethos Financial Group LLC now owns 1,952 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 85 shares in the last quarter. Griffin Asset Management Inc. raised its stake in Paychex by 0.5% during the 4th quarter. Griffin Asset Management Inc. now owns 18,225 shares of the business services provider’s stock valued at $2,171,000 after buying an additional 88 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Paychex by 5.1% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,908 shares of the business services provider’s stock valued at $227,000 after buying an additional 92 shares during the last quarter. Rogco LP raised its stake in Paychex by 1.1% during the 4th quarter. Rogco LP now owns 8,469 shares of the business services provider’s stock valued at $1,009,000 after buying an additional 93 shares during the last quarter. Finally, Dohj LLC raised its stake in Paychex by 3.1% during the 4th quarter. Dohj LLC now owns 3,242 shares of the business services provider’s stock valued at $386,000 after buying an additional 97 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Paychex Trading Up 0.6 %

Shares of PAYX stock opened at $122.58 on Monday. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $129.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $44.12 billion, a PE ratio of 26.71, a PEG ratio of 3.40 and a beta of 0.96. The stock has a fifty day simple moving average of $122.05 and a two-hundred day simple moving average of $121.89.

Paychex (NASDAQ:PAYXGet Free Report) last released its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.37 by $0.01. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Friday, May 10th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from Paychex’s previous quarterly dividend of $0.89. Paychex’s dividend payout ratio is 85.40%.

Insider Buying and Selling at Paychex

In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the completion of the transaction, the director now owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PAYX shares. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of Paychex in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research note on Tuesday, May 21st. TD Cowen decreased their target price on shares of Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Evercore ISI restated an “in-line” rating and issued a $118.00 price objective on shares of Paychex in a research note on Tuesday, March 26th. Finally, Bank of America upped their price objective on Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.00.

View Our Latest Stock Report on Paychex

Paychex Profile

(Free Report)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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