Paychex, Inc. (NASDAQ:PAYX) Position Lessened by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 118,880 shares of the business services provider's stock after selling 10,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Paychex were worth $18,341,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in shares of Paychex by 120.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider's stock worth $973,000 after purchasing an additional 3,783 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Paychex by 15.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider's stock valued at $990,000 after buying an additional 843 shares during the period. Tallon Kerry Patrick purchased a new position in Paychex during the 4th quarter worth $2,419,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Paychex by 4.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 581,529 shares of the business services provider's stock worth $81,542,000 after acquiring an additional 23,359 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Paychex in the 4th quarter worth $3,872,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Price Performance

Shares of NASDAQ PAYX traded up $0.46 during trading on Monday, reaching $153.68. The company had a trading volume of 1,665,148 shares, compared to its average volume of 1,903,770. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $55.35 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92. Paychex, Inc. has a twelve month low of $115.40 and a twelve month high of $161.24. The stock has a 50-day moving average price of $151.13 and a two-hundred day moving average price of $147.50.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. Paychex's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 12th were given a $1.08 dividend. 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 2.81%. The ex-dividend date of this dividend was Monday, May 12th. Paychex's dividend payout ratio (DPR) is presently 90.00%.

Insider Buying and Selling at Paychex

In related news, Director Joseph M. Velli sold 3,650 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the sale, the director now directly owns 78,455 shares in the company, valued at $11,709,408.75. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a research note on Thursday, March 27th. Jefferies Financial Group reissued a "hold" rating on shares of Paychex in a research note on Friday, May 23rd. Royal Bank of Canada lifted their price target on Paychex from $148.00 to $165.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 3rd. Cfra Research upgraded Paychex to a "hold" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.