Rowlandmiller & PARTNERS.ADV Sells 573 Shares of Paychex, Inc. (NASDAQ:PAYX)

Rowlandmiller & PARTNERS.ADV lessened its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 30,664 shares of the business services provider’s stock after selling 573 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Paychex were worth $4,115,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAYX. Capital International Investors boosted its stake in Paychex by 12.8% during the first quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock worth $2,563,853,000 after buying an additional 2,373,894 shares during the period. Capital World Investors boosted its stake 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 worth $304,338,000 after buying an additional 1,508,681 shares during the period. International Assets Investment Management LLC boosted its stake in Paychex by 38,655.2% during 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 buying an additional 797,843 shares during the period. TD Asset Management Inc boosted its stake in Paychex by 57.2% during the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after buying an additional 793,468 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Paychex by 85.1% during the first quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock worth $154,263,000 after buying an additional 579,136 shares during the period. Institutional investors own 83.47% of the company’s stock.

Insiders Place Their Bets

In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares in the company, 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 68,608 shares of company stock worth $9,384,512. 11.40% of the stock is owned by corporate insiders.

Paychex Stock Up 0.2 %

NASDAQ:PAYX opened at $141.68 on Friday. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $144.17. The company has a 50-day moving average of $134.36 and a 200 day moving average of $126.60. The firm has a market cap of $50.99 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. As a group, research analysts anticipate that Paychex, Inc. will post 4.98 EPS 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 is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. Paychex’s dividend payout ratio is presently 83.58%.

Analyst Ratings Changes

Several research analysts have commented on PAYX shares. Stifel Nicolaus lifted their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Citigroup lifted their price objective on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada boosted their target price on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 2nd. Barclays boosted their target price on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Finally, Morgan Stanley boosted their target price on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $130.77.

Paychex Company 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.