Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 31,900 Shares of Paychex, Inc. $PAYX

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund sold 31,900 shares of Paychex, reducing its holdings by 29.1%, now totaling 77,845 shares valued at approximately $12 million.
• Paychex recently declared a $1.08 quarterly dividend, resulting in an annualized payout of $4.32 and a yield of 3.1%, with a significant dividend payout ratio of 94.53%.
• Paychex's stock is currently trading at $137.49, down 0.8%, with analysts anticipating an earnings per share (EPS) of 4.99 for the current fiscal year.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 29.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,845 shares of the business services provider's stock after selling 31,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Paychex were worth $12,010,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAYX. American Money Management LLC increased its holdings in Paychex by 0.3% during the 1st quarter. American Money Management LLC now owns 42,885 shares of the business services provider's stock worth $6,616,000 after purchasing an additional 109 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Paychex by 117.6% in the first quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider's stock worth $187,512,000 after buying an additional 657,871 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Paychex by 97.0% during the first quarter. E Fund Management Co. Ltd. now owns 9,978 shares of the business services provider's stock worth $1,539,000 after buying an additional 4,913 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Paychex by 0.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 95,908 shares of the business services provider's stock worth $14,797,000 after buying an additional 851 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Paychex by 11,020.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,112 shares of the business services provider's stock worth $172,000 after buying an additional 1,102 shares during the period. Institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

Paychex stock traded down $0.68 during mid-day trading on Monday, hitting $137.57. 1,953,622 shares of the company's stock traded hands, compared to its average volume of 2,158,069. The firm has a 50 day moving average price of $145.29 and a 200 day moving average price of $148.11. 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 has a market cap of $49.56 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 3.17 and a beta of 0.91. Paychex, Inc. has a one year low of $124.64 and a one year high of $161.24.

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

Paychex Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PAYX shares. Citigroup set a $158.00 price objective on shares of Paychex and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group reduced their price target on Paychex from $155.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, June 26th. Royal Bank Of Canada set a $165.00 target price on Paychex and gave the company a "sector perform" rating in a research report on Tuesday, June 24th. Barclays set a $155.00 price objective on shares of Paychex and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Finally, Jefferies Financial Group set a $140.00 price objective on Paychex and gave the company a "hold" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $150.70.

Insider Activity at Paychex

In other news, Chairman Martin Mucci sold 97,526 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total value of $14,157,849.42. Following the sale, the chairman directly owned 446,917 shares in the company, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John B. Gibson sold 12,370 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was 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 in the company, valued at $11,602,669.60. The trade was a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by 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.