OMERS ADMINISTRATION Corp Has $3.31 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

OMERS ADMINISTRATION Corp cut its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,624 shares of the business services provider's stock after selling 3,599 shares during the period. OMERS ADMINISTRATION Corp's holdings in Paychex were worth $3,313,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC increased its position in shares of Paychex by 91.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider's stock valued at $1,515,000 after purchasing an additional 5,153 shares during the period. Jones Financial Companies Lllp boosted its stake in Paychex by 120.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider's stock valued at $973,000 after buying an additional 3,783 shares in the last quarter. Red Door Wealth Management LLC acquired a new position in Paychex during the fourth quarter worth about $314,000. Brookstone Capital Management raised its position in Paychex by 6.0% in the fourth quarter. Brookstone Capital Management now owns 3,027 shares of the business services provider's stock worth $424,000 after acquiring an additional 170 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in Paychex by 54.6% in the fourth quarter. DAVENPORT & Co LLC now owns 36,057 shares of the business services provider's stock worth $5,056,000 after acquiring an additional 12,732 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company's stock.

Insider Buying and Selling at Paychex

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of Paychex stock in a transaction on Tuesday, April 15th. The shares were 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 of the company's stock, valued at $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 is available at this hyperlink. Company insiders own 11.40% of the company's stock.

Paychex Trading Up 1.0%

Paychex stock traded up $1.55 during midday trading on Friday, reaching $155.98. The stock had a trading volume of 1,415,518 shares, compared to its average volume of 1,928,600. The firm's fifty day simple moving average is $147.26 and its two-hundred day simple moving average is $145.71. The firm has a market cap of $56.18 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 4.10 and a beta of 0.91. Paychex, Inc. has a twelve month low of $115.40 and a twelve month high of $158.37. 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 (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $1.38 EPS. The business's quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, May 12th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, May 12th. 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 yield of 2.77%. Paychex's payout ratio is presently 90.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Paychex from $137.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Cfra Research upgraded shares of Paychex to a "hold" rating in a report on Thursday, March 27th. Barclays lifted their price target on shares of Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Monday, March 31st. UBS Group increased their price objective on Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their target price on Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, March 27th. Two 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.com, the stock has an average rating of "Hold" and a consensus target price of $141.00.

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.