BLI Banque de Luxembourg Investments Buys New Stake in Paychex, Inc. (NASDAQ:PAYX)

BLI Banque de Luxembourg Investments purchased a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 182,900 shares of the business services provider's stock, valued at approximately $25,602,000. BLI Banque de Luxembourg Investments owned about 0.05% of Paychex at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PAYX. Vanguard Group Inc. increased its position in Paychex by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider's stock valued at $4,419,878,000 after buying an additional 174,817 shares in the last quarter. Capital International Investors grew its stake in shares of Paychex by 0.6% during the fourth quarter. Capital International Investors now owns 26,905,031 shares of the business services provider's stock worth $3,772,544,000 after acquiring an additional 166,155 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Paychex by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider's stock valued at $1,408,458,000 after acquiring an additional 519,761 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Paychex by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 9,541,034 shares of the business services provider's stock valued at $1,339,463,000 after purchasing an additional 126,962 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Paychex by 16.9% in the 4th quarter. Northern Trust Corp now owns 4,807,554 shares of the business services provider's stock worth $674,115,000 after purchasing an additional 694,651 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Trading Up 2.2 %

Shares of NASDAQ:PAYX opened at $149.81 on Friday. The company has a market capitalization of $53.96 billion, a PE ratio of 31.54, a PEG ratio of 4.10 and a beta of 0.88. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $158.37. The business has a 50 day moving average of $147.15 and a two-hundred day moving average of $144.99. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, May 12th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.88%. This is an increase from Paychex's previous quarterly dividend of $0.98. Paychex's dividend payout ratio is currently 81.67%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAYX. Barclays raised their price target on shares of Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a report on Monday, March 31st. Stifel Nicolaus lifted their price target on Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, March 27th. Citigroup boosted their price target on Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Morgan Stanley raised their price objective on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Finally, UBS Group upped their target price on Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, Paychex presently has an average rating of "Hold" and a consensus target price of $141.00.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Velli sold 3,650 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the transaction, the director now owns 78,455 shares in the company, valued at $11,709,408.75. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.40% of the stock is owned by corporate insiders.

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.

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