OneDigital Investment Advisors LLC Decreases Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

OneDigital Investment Advisors LLC lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,816 shares of the business services provider's stock after selling 3,371 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Paychex were worth $1,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Avantax Planning Partners Inc. increased its stake in shares of Paychex by 27.9% during the 1st quarter. Avantax Planning Partners Inc. now owns 4,135 shares of the business services provider's stock worth $638,000 after purchasing an additional 902 shares during the last quarter. Calamos Advisors LLC increased its stake in shares of Paychex by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 93,588 shares of the business services provider's stock worth $14,439,000 after purchasing an additional 1,042 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Paychex by 4.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,911 shares of the business services provider's stock worth $912,000 after purchasing an additional 240 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Paychex during the 1st quarter worth approximately $85,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Paychex by 13.9% during the 1st quarter. Rosenberg Matthew Hamilton now owns 1,406 shares of the business services provider's stock worth $217,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 83.47% of the company's stock.

Paychex Price Performance

NASDAQ:PAYX traded down $1.46 during trading hours on Monday, hitting $145.67. The stock had a trading volume of 3,435,927 shares, compared to its average volume of 1,966,039. Paychex, Inc. has a one year low of $115.40 and a one year high of $161.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.39. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 3.29 and a beta of 0.88. The company has a 50 day simple moving average of $152.10 and a two-hundred day simple moving average of $148.11.

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

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 12th were issued a dividend of $1.08 per share. This is an increase from Paychex's previous quarterly dividend of $0.98. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, May 12th. Paychex's payout ratio is currently 94.53%.

Analyst Ratings Changes

PAYX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $140.00 to $148.00 and gave the company an "underweight" rating in a research note on Wednesday, June 18th. Stifel Nicolaus reduced their price objective on shares of Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, June 26th. Barclays set a $155.00 price objective on shares of Paychex and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the company a "sector perform" rating in a research note on Tuesday, June 24th. Finally, UBS Group reduced their price objective on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $149.11.

Insiders Place Their Bets

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the sale, the director directly owned 78,455 shares of the company's stock, valued at $11,709,408.75. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.40% of the stock is owned by corporate insiders.

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.