Nottingham Advisors Inc. Sells 233 Shares of Paychex, Inc. (NASDAQ:PAYX)

Nottingham Advisors Inc. trimmed its position in Paychex, Inc. (NASDAQ:PAYX) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,718 shares of the business services provider’s stock after selling 233 shares during the period. Nottingham Advisors Inc.’s holdings in Paychex were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PAYX. Capital International Investors boosted its position in shares of Paychex by 12.8% during 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 acquiring an additional 2,373,894 shares during the last quarter. Capital World Investors lifted its holdings in shares of Paychex by 155.6% in the 1st 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. TD Asset Management Inc grew 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 worth $267,695,000 after buying an additional 793,468 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of 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 valued at $154,263,000 after buying an additional 579,136 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Paychex by 30.9% in 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 in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PAYX shares. Royal Bank of Canada boosted their price objective on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Citigroup increased their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their price target on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group boosted their price target on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $130.77.

Insider Buying and Selling at Paychex

In other Paychex news, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction on Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. S. Flaschen sold 9,615 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the completion of the transaction, the director now directly owns 5,383 shares in the company, valued at approximately $676,104.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,162 shares of company stock valued at $9,846,185. 11.50% of the stock is currently owned by company insiders.

Paychex Stock Down 0.1 %

PAYX stock traded down $0.21 during mid-day trading on Thursday, hitting $142.07. The stock had a trading volume of 33,539 shares, compared to its average volume of 1,801,507. The company has a fifty day moving average of $132.66 and a 200 day moving average of $125.89. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $144.17. 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 stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.73 and a beta of 1.00.

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

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is 83.94%.

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.