Capital International Inc. CA Acquires 30,912 Shares of Paychex, Inc. (NASDAQ:PAYX)

Capital International Inc. CA lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 50.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,449 shares of the business services provider’s stock after acquiring an additional 30,912 shares during the period. Capital International Inc. CA’s holdings in Paychex were worth $11,353,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. ESL Trust Services LLC acquired a new position in shares of Paychex in the first quarter valued at approximately $31,000. Chilton Capital Management LLC acquired a new stake in Paychex in the 1st quarter valued at $31,000. Clear Investment Research LLC raised its holdings in Paychex by 55.8% during the fourth quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock worth $37,000 after buying an additional 110 shares during the last quarter. Tidemark LLC bought a new stake in Paychex during the 4th quarter worth approximately $40,000. Finally, Criterion Capital Advisors LLC purchased a new position in Paychex during the 4th quarter worth $40,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Shares of Paychex stock traded up $1.77 on Friday, reaching $125.75. The company’s stock had a trading volume of 1,371,622 shares, compared to its average volume of 1,861,178. The stock has a 50-day moving average price of $121.91 and a 200-day moving average price of $121.80. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $129.70. The company has a market capitalization of $45.29 billion, a P/E ratio of 26.93, a PEG ratio of 3.26 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Paychex had a net margin of 32.03% and a return on equity of 46.63%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Thursday, August 8th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, August 8th. Paychex’s dividend payout ratio (DPR) is 83.94%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PAYX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a report on Thursday, June 27th. Bank of America boosted their price objective on Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, June 27th. Barclays dropped their price objective on Paychex from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Monday, July 1st. Morgan Stanley cut their target price on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of Paychex in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $122.46.

Insider Buying and Selling at Paychex

In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $124.55, for a total value of $2,454,755.95. Following the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $670,452.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the sale, the vice president now owns 79,232 shares in the company, valued at $9,793,075.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. S. Flaschen sold 19,709 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $124.55, for a total value of $2,454,755.95. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at $670,452.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,823 shares of company stock worth $16,977,648. 11.50% of the stock is owned by insiders.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.