Great West Life Assurance Co. Can Has $45.19 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Great West Life Assurance Co. Can decreased its holdings in Paychex, Inc. (NASDAQ:PAYXFree Report) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 401,896 shares of the business services provider’s stock after selling 33,373 shares during the period. Great West Life Assurance Co. Can owned about 0.11% of Paychex worth $45,188,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Ritholtz Wealth Management raised its position in shares of Paychex by 113.2% in the second quarter. Ritholtz Wealth Management now owns 19,006 shares of the business services provider’s stock valued at $2,126,000 after purchasing an additional 10,092 shares during the period. Kesler Norman & Wride LLC lifted its position in Paychex by 2.0% during the second quarter. Kesler Norman & Wride LLC now owns 17,985 shares of the business services provider’s stock worth $2,012,000 after acquiring an additional 348 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Paychex by 8.1% during the first quarter. LPL Financial LLC now owns 432,146 shares of the business services provider’s stock worth $49,520,000 after acquiring an additional 32,276 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Paychex by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,591,680 shares of the business services provider’s stock valued at $178,040,000 after purchasing an additional 142,656 shares during the last quarter. Finally, Shelton Capital Management increased its stake in shares of Paychex by 8.7% during the first quarter. Shelton Capital Management now owns 30,907 shares of the business services provider’s stock worth $3,542,000 after purchasing an additional 2,479 shares during the period. 72.18% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Up 1.1 %

Shares of NASDAQ PAYX opened at $118.77 on Tuesday. The company has a market cap of $42.90 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.16 and a beta of 0.97. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.22. Paychex, Inc. has a 12 month low of $104.09 and a 12 month high of $129.70. The stock has a 50-day moving average price of $115.44 and a two-hundred day moving average price of $116.00.

Paychex (NASDAQ:PAYXGet Free Report) last released its quarterly earnings data on Wednesday, September 27th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 31.40% and a return on equity of 46.51%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts forecast that Paychex, Inc. will post 4.7 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, November 13th. Paychex’s dividend payout ratio (DPR) is 80.73%.

Insider Buying and Selling

In related news, VP Michael E. Gioja sold 41,329 shares of Paychex stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $115.79, for a total transaction of $4,785,484.91. Following the sale, the vice president now directly owns 19,800 shares in the company, valued at approximately $2,292,642. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Paychex from $114.00 to $134.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 22nd. TD Cowen raised their price target on shares of Paychex from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Morgan Stanley boosted their price objective on shares of Paychex from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, September 28th. UBS Group initiated coverage on shares of Paychex in a report on Tuesday, November 7th. They set a “neutral” rating and a $120.00 target price on the stock. Finally, StockNews.com initiated coverage on Paychex in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paychex currently has a consensus rating of “Hold” and an average price target of $121.63.

Get Our Latest Stock Report on Paychex

Paychex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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