Natixis Advisors LLC Has $21.07 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Key Points

• Natixis Advisors LLC increased its holdings in Paychex, Inc. by 26.3%, owning 136,567 shares worth approximately $21.07 million as of the latest SEC filing.
• Paychex's CEO and Chairman recently sold a combined total of over $15.9 million in shares, indicating a decrease in their ownership percentages by 13.14% and 17.91%, respectively.
• Research analysts have set varying price targets for Paychex, with a consensus rating of "Hold" and an average target price of $150.20.

Natixis Advisors LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 26.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,567 shares of the business services provider's stock after acquiring an additional 28,445 shares during the quarter. Natixis Advisors LLC's holdings in Paychex were worth $21,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of Paychex during the first quarter valued at about $34,000. Alpine Bank Wealth Management acquired a new position in shares of Paychex during the first quarter valued at about $34,000. Tsfg LLC raised its position in shares of Paychex by 122.3% during the first quarter. Tsfg LLC now owns 229 shares of the business services provider's stock valued at $35,000 after buying an additional 126 shares during the last quarter. HWG Holdings LP acquired a new position in shares of Paychex during the first quarter valued at about $46,000. Finally, Transce3nd LLC acquired a new position in shares of Paychex during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Insider Transactions at Paychex

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the completion of the transaction, the chief executive officer directly owned 81,755 shares of the company's stock, valued at approximately $11,602,669.60. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Martin Mucci sold 97,526 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the completion of the transaction, the chairman directly owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup set a $158.00 price objective on shares of Paychex and gave the company a "neutral" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. increased their price target on shares of Paychex from $140.00 to $148.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 18th. BMO Capital Markets assumed coverage on shares of Paychex in a research report on Thursday, July 10th. They issued a "market perform" rating and a $160.00 price target for the company. Barclays set a $155.00 price target on shares of Paychex and gave the stock an "equal weight" rating in a research report on Tuesday, June 24th. Finally, UBS Group dropped their price target on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of "Hold" and a consensus target price of $150.20.

Paychex Price Performance

NASDAQ:PAYX opened at $139.34 on Friday. The firm has a market cap of $50.20 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 3.31 and a beta of 0.91. Paychex, Inc. has a 12 month low of $122.07 and a 12 month high of $161.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. The company's 50-day moving average price is $149.17 and its two-hundred day moving average price is $148.60.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, meeting analysts' consensus estimates of $1.19. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same period in the previous year, the business earned $1.12 earnings per share. On average, equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, July 21st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.1%. Paychex's payout ratio is currently 94.53%.

About Paychex

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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.