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

OneDigital Investment Advisors LLC trimmed its stake in Paychex, Inc. (NASDAQ:PAYX) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,201 shares of the business services provider’s stock after selling 761 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Paychex were worth $2,040,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. CVA Family Office LLC raised its position in shares of Paychex by 5.6% in the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after buying an additional 74 shares during the period. Fortitude Family Office LLC increased its stake in Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the last quarter. Kanawha Capital Management LLC raised its holdings in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after purchasing an additional 75 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after purchasing an additional 82 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of Paychex by 1.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock worth $873,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Paychex stock opened at $142.96 on Friday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market cap of $51.45 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 4.03 and a beta of 0.99. The stock has a 50 day moving average of $139.30 and a 200-day moving average of $129.19.

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

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.74%. Paychex’s payout ratio is 83.58%.

Insider Activity

In other Paychex news, VP Michael E. Gioja sold 26,428 shares of Paychex stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the transaction, the vice president now owns 14,515 shares of the company’s stock, valued at $2,018,020.45. The trade was a 64.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,174 shares of company stock worth $7,577,231. 11.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. UBS Group upped their price target 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. Jefferies Financial Group raised their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Citigroup boosted their price objective on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada increased their target price on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.