Post Resch Tallon Group Inc. Sells 9,997 Shares of Paychex, Inc. (NASDAQ:PAYX)

Post Resch Tallon Group Inc. lowered its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 57.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,467 shares of the business services provider's stock after selling 9,997 shares during the period. Paychex accounts for 1.2% of Post Resch Tallon Group Inc.'s holdings, making the stock its 26th biggest position. Post Resch Tallon Group Inc.'s holdings in Paychex were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in shares of Paychex in the 4th quarter valued at about $2,419,000. Brighton Jones LLC raised its stake in Paychex by 26.3% in the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after acquiring an additional 1,190 shares during the period. Sigma Planning Corp raised its stake in Paychex by 10.8% in the 4th quarter. Sigma Planning Corp now owns 13,598 shares of the business services provider's stock valued at $1,907,000 after acquiring an additional 1,326 shares during the period. Pinnacle Financial Partners Inc raised its stake in Paychex by 3.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 10,534 shares of the business services provider's stock valued at $1,477,000 after acquiring an additional 379 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Paychex by 4.0% in the 4th quarter. First Horizon Advisors Inc. now owns 28,356 shares of the business services provider's stock valued at $3,976,000 after acquiring an additional 1,084 shares during the period. 83.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 sale, the director now owns 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PAYX shares. JPMorgan Chase & Co. increased their price objective on shares of Paychex from $140.00 to $148.00 and gave the company an "underweight" rating in a research report on Wednesday, June 18th. UBS Group increased their price target on shares of Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, March 27th. Barclays increased their price target on shares of Paychex from $140.00 to $155.00 and gave the company an "equal weight" rating in a report on Monday, March 31st. Finally, Morgan Stanley increased their target price on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $143.36.

Paychex Stock Performance

Paychex stock opened at $149.12 on Monday. The stock has a market cap of $53.71 billion, a PE ratio of 31.07, a P/E/G ratio of 3.23 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $151.84 and its two-hundred day moving average price is $147.73. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Paychex had a net margin of 31.99% and a return on equity of 45.30%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Increases Dividend

The company also recently declared 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 a boost from Paychex's previous quarterly dividend of $0.98. This represents a $4.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Monday, May 12th. Paychex's payout ratio is 90.00%.

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.

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