Simon Quick Advisors LLC Acquires 1,725 Shares of Paychex, Inc. (NASDAQ:PAYX)

Simon Quick Advisors LLC increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,268 shares of the business services provider's stock after purchasing an additional 1,725 shares during the period. Simon Quick Advisors LLC's holdings in Paychex were worth $1,121,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Tallon Kerry Patrick purchased a new stake in Paychex in the 4th quarter worth approximately $2,419,000. Brighton Jones LLC grew its position in shares of Paychex by 26.3% in the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after purchasing an additional 1,190 shares during the period. Savant Capital LLC grew its position in shares of Paychex by 2.2% in the fourth quarter. Savant Capital LLC now owns 9,175 shares of the business services provider's stock valued at $1,287,000 after purchasing an additional 194 shares during the period. Leavell Investment Management Inc. increased its stake in Paychex by 15.2% in the fourth quarter. Leavell Investment Management Inc. now owns 5,356 shares of the business services provider's stock valued at $751,000 after purchasing an additional 708 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in Paychex by 2.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 6,330 shares of the business services provider's stock worth $888,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 83.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PAYX shares. Citigroup lifted their price target on Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Royal Bank of Canada boosted their target price on shares of Paychex from $148.00 to $165.00 and gave the company a "sector perform" rating in a report on Tuesday, June 3rd. Morgan Stanley upped their price target 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. Jefferies Financial Group reiterated a "hold" rating on shares of Paychex in a report on Friday, May 23rd. Finally, Barclays upped their price objective on Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, Paychex currently has an average rating of "Hold" and a consensus price target of $142.55.

Paychex Stock Performance

Shares of PAYX stock traded up $0.46 on Monday, hitting $153.68. 1,665,148 shares of the stock traded hands, compared to its average volume of 1,903,775. The company's fifty day moving average is $151.47 and its 200 day moving average is $147.55. 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 $161.24. The company has a market capitalization of $55.35 billion, a PE ratio of 32.35, a PEG ratio of 4.10 and a beta of 0.92.

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, topping analysts' consensus estimates of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 12th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Paychex's previous quarterly dividend of $0.98. Paychex's dividend payout ratio (DPR) is 90.00%.

Insider Buying and Selling at Paychex

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

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.