BSW Wealth Partners Purchases New Position in Paychex, Inc. (NASDAQ:PAYX)

BSW Wealth Partners purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,511 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other large investors also recently modified their holdings of PAYX. Capital International Investors increased its holdings 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 worth $2,563,853,000 after acquiring an additional 2,373,894 shares during the last quarter. Capital World Investors lifted its position in Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after purchasing an additional 1,508,681 shares during the last quarter. International Assets Investment Management LLC grew its position in Paychex by 38,655.2% in the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after acquiring an additional 797,843 shares in the last quarter. TD Asset Management Inc increased its position in shares of Paychex by 57.2% during the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock valued at $267,695,000 after purchasing an additional 793,468 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Paychex by 30.9% during the first quarter. Epoch Investment Partners Inc. now owns 1,676,521 shares of the business services provider’s stock valued at $205,877,000 after acquiring an additional 395,343 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen boosted their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Barclays increased their price objective on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Finally, UBS Group lifted their target price on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $130.77.

Insider Transactions at Paychex

In related news, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,018,020.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael E. Gioja sold 14,731 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the sale, the vice president now directly owns 14,515 shares of the company’s stock, valued at $2,020,197.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the transaction, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,174 shares of company stock worth $7,577,231. Corporate insiders own 11.40% of the company’s stock.

Paychex Stock Up 0.4 %

PAYX stock opened at $139.68 on Tuesday. The company has a market capitalization of $50.27 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99. The business’s 50 day moving average price is $136.50 and its two-hundred day moving average price is $127.64. Paychex, Inc. has a fifty-two week low of $109.98 and a fifty-two week high of $144.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company 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 $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.81%. Paychex’s dividend payout ratio (DPR) is presently 83.58%.

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.