Siemens Fonds Invest GmbH Cuts Stake in Paychex, Inc. (NASDAQ:PAYX)

Siemens Fonds Invest GmbH decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 52.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,684 shares of the business services provider's stock after selling 19,534 shares during the period. Siemens Fonds Invest GmbH's holdings in Paychex were worth $2,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GHE LLC increased its position in Paychex by 0.5% during the 4th quarter. GHE LLC now owns 21,365 shares of the business services provider's stock worth $2,996,000 after purchasing an additional 98 shares during the period. Menard Financial Group LLC acquired a new position in Paychex during the 4th quarter worth approximately $120,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paychex during the 4th quarter worth approximately $33,346,000. Leigh Baldwin & CO. LLC acquired a new position in Paychex during the 4th quarter worth approximately $524,000. Finally, Armis Advisers LLC acquired a new stake in shares of Paychex in the 4th quarter worth approximately $610,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Price Performance

NASDAQ:PAYX traded up $0.24 during trading hours on Friday, reaching $157.66. 1,993,759 shares of the company traded hands, compared to its average volume of 1,914,950. The firm's 50-day moving average is $149.61 and its 200-day moving average is $146.60. The stock has a market cap of $56.79 billion, a P/E ratio of 33.19, a P/E/G ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 1-year low of $115.40 and a 1-year high of $159.75.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. Paychex's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. Equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, May 12th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Paychex's previous quarterly dividend of $0.98. Paychex's dividend payout ratio is currently 90.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAYX shares. Citigroup upped their price target on Paychex from $145.00 to $158.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Jefferies Financial Group restated a "hold" rating on shares of Paychex in a report on Friday, May 23rd. Barclays upped their price target on Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a report on Monday, March 31st. Morgan Stanley upped their price target on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Finally, Stifel Nicolaus upped their price target on Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, Paychex currently has a consensus rating of "Hold" and an average target price of $141.00.

Insiders Place Their Bets

In related news, Director Joseph M. Velli sold 3,650 shares of the stock in a transaction 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 transaction, the director now directly owns 78,455 shares of the company's stock, valued at approximately $11,709,408.75. This trade represents a 4.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.40% of the company's stock.

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.