Mn Services Vermogensbeheer B.V. Has $17.98 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,980 shares of the business services provider’s stock after selling 5,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Paychex were worth $17,983,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ST Germain D J Co. Inc. acquired a new stake in shares of Paychex in the 2nd quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in shares of Paychex during the third quarter valued at approximately $26,000. Carmel Capital Partners LLC acquired a new position in shares of Paychex during the third quarter worth approximately $28,000. Larson Financial Group LLC lifted its holdings in shares of Paychex by 91.5% in the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. bought a new stake in Paychex during the 3rd quarter valued at $33,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Performance

Paychex stock traded down $1.24 during midday trading on Friday, reaching $123.00. The stock had a trading volume of 2,004,438 shares, compared to its average volume of 2,146,834. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $44.28 billion, a PE ratio of 26.80, a P/E/G ratio of 3.47 and a beta of 0.93. Paychex, Inc. has a 12 month low of $104.09 and a 12 month high of $129.70. The firm’s 50-day moving average price is $122.23 and its 200 day moving average price is $120.06.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.37 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. Paychex’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. As a group, research analysts predict that Paychex, Inc. will post 4.71 earnings per share for the current fiscal year.

Paychex announced that its Board of Directors has authorized a share repurchase plan on Friday, January 19th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.89%. Paychex’s dividend payout ratio (DPR) is currently 77.56%.

Insider Transactions at Paychex

In related news, VP Mark Anthony Bottini sold 15,481 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the completion of the transaction, the vice president now directly owns 82,690 shares in the company, valued at $9,966,625.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PAYX shares. JPMorgan Chase & Co. reduced their price objective on shares of Paychex from $134.00 to $126.00 and set an “underweight” rating for the company in a report on Friday, December 22nd. TD Cowen dropped their price objective on Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Citigroup reduced their target price on shares of Paychex from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, December 26th. Barclays cut their price target on shares of Paychex from $126.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, December 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of Paychex in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.00.

Paychex 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.