V Square Quantitative Management LLC Purchases 154 Shares of Paychex, Inc. (NASDAQ:PAYX)

V Square Quantitative Management LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,462 shares of the business services provider’s stock after purchasing an additional 154 shares during the period. V Square Quantitative Management LLC’s holdings in Paychex were worth $867,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Paychex by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock worth $3,750,472,000 after acquiring an additional 123,268 shares in the last quarter. Capital International Investors raised its position in Paychex by 12.8% in the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after purchasing an additional 2,373,894 shares during the last quarter. Capital World Investors grew its holdings in shares of Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock worth $304,338,000 after purchasing an additional 1,508,681 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Paychex by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after buying an additional 384,184 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Paychex by 57.2% in the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock valued at $267,695,000 after buying an additional 793,468 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

Paychex stock opened at $141.53 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $50.94 billion, a P/E ratio of 30.18, a PEG ratio of 3.91 and a beta of 1.00. The business has a 50-day moving average of $133.36 and a 200-day moving average of $126.15. Paychex, Inc. has a 1 year low of $106.27 and a 1 year high of $144.17.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. On average, equities analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.77%. Paychex’s dividend payout ratio is presently 83.58%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PAYX shares. Royal Bank of Canada raised their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Bank of America boosted their price objective on shares of Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Morgan Stanley increased their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group boosted their target price on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Buying and Selling at Paychex

In other news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the sale, the chief financial officer now owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the sale, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,177 shares of company stock valued at $11,698,870. Company 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.