China Universal Asset Management Co. Ltd. Has $1.37 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

China Universal Asset Management Co. Ltd. raised its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 51.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,893 shares of the business services provider's stock after purchasing an additional 3,036 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Paychex were worth $1,372,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in Paychex by 220.7% in the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider's stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Paychex in the 4th quarter valued at about $28,000. Millstone Evans Group LLC acquired a new position in Paychex in the 4th quarter valued at about $33,000. Alpine Bank Wealth Management acquired a new stake in Paychex in the 1st quarter worth about $34,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in Paychex in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PAYX. Jefferies Financial Group set a $140.00 price target on Paychex and gave the stock a "hold" rating in a research note on Thursday, June 26th. Morgan Stanley decreased their target price on Paychex from $150.00 to $148.00 and set an "equal weight" rating for the company in a report on Friday, June 27th. BMO Capital Markets assumed coverage on Paychex in a report on Thursday. They set a "market perform" rating and a $160.00 target price for the company. Barclays set a $155.00 target price on Paychex and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada set a $165.00 target price on Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $150.20.

Paychex Stock Performance

Shares of NASDAQ:PAYX traded down $1.00 on Friday, hitting $144.31. The company's stock had a trading volume of 328,666 shares, compared to its average volume of 1,971,826. Paychex, Inc. has a 12 month low of $116.57 and a 12 month high of $161.24. The company has a market capitalization of $51.98 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.34 and a beta of 0.88. The stock's 50-day moving average is $152.05 and its two-hundred day moving average is $148.16. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.39 and a current ratio of 1.28.

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, July 21st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, July 21st. Paychex's dividend payout ratio is currently 94.53%.

Insider Transactions at Paychex

In other news, Director Joseph M. Velli sold 3,650 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction 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. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.40% of the company's stock.

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.