Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,612 shares of the business services provider's stock after selling 2,577 shares during the period. Baldwin Wealth Partners LLC MA's holdings in Paychex were worth $5,803,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Monument Capital Management raised its stake in Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock worth $240,000 after buying an additional 72 shares in the last quarter. Emerald Advisors LLC grew its holdings in Paychex by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock worth $423,000 after purchasing an additional 74 shares during the last quarter. Ashton Thomas Securities LLC grew its holdings in Paychex by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 3,179 shares of the business services provider's stock worth $446,000 after purchasing an additional 78 shares during the last quarter. GeoWealth Management LLC grew its holdings in Paychex by 2.1% in the fourth quarter. GeoWealth Management LLC now owns 4,120 shares of the business services provider's stock worth $578,000 after purchasing an additional 84 shares during the last quarter. Finally, Optivise Advisory Services LLC grew its holdings in Paychex by 3.9% in the fourth quarter. Optivise Advisory Services LLC now owns 2,264 shares of the business services provider's stock worth $317,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

NASDAQ:PAYX traded down $0.55 during mid-day trading on Thursday, hitting $153.49. The company's stock had a trading volume of 1,492,685 shares, compared to its average volume of 1,897,669. Paychex, Inc. has a 1 year low of $115.40 and a 1 year high of $161.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $55.29 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 4.10 and a beta of 0.92. The business's fifty day moving average is $150.55 and its two-hundred day moving average is $147.37.

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

Paychex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 12th were paid a dividend of $1.08 per share. This is a positive change from Paychex's previous quarterly dividend of $0.98. This represents a $4.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Monday, May 12th. Paychex's dividend payout ratio is presently 90.00%.

Insider Transactions at Paychex

In other news, Director Joseph M. Velli sold 3,650 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total transaction of $544,762.50. Following the sale, the director now directly owns 78,455 shares of the company's stock, valued at $11,709,408.75. This represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.40% of the company's stock.

Analyst Ratings Changes

PAYX has been the topic of several analyst reports. Barclays lifted 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of Paychex in a report on Friday, May 23rd. Stifel Nicolaus lifted their price target on shares of Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, March 27th. Citigroup lifted their price target on shares of Paychex from $145.00 to $158.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, UBS Group lifted their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $142.55.

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.