Nvwm LLC cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 40.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,773 shares of the business services provider’s stock after selling 3,975 shares during the quarter. Nvwm LLC’s holdings in Paychex were worth $363,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $25,000. Stonebridge Financial Planning Group LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $28,000. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $32,000. Finally, Savior LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 67.99% of the company’s stock.
PAYX stock traded down $0.61 during trading on Friday, hitting $66.79. The company had a trading volume of 19,666 shares, compared to its average volume of 2,485,038. The company has a fifty day moving average price of $65.62 and a two-hundred day moving average price of $78.08. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. The company has a market cap of $24.32 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.82 and a beta of 0.96. Paychex, Inc. has a fifty-two week low of $47.87 and a fifty-two week high of $90.54.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Paychex had a return on equity of 41.68% and a net margin of 26.98%. Paychex’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, analysts expect that Paychex, Inc. will post 3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, May 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Thursday, May 14th. Paychex’s dividend payout ratio is currently 87.32%.
Several equities research analysts have recently issued reports on PAYX shares. Cowen lifted their price target on Paychex from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday. Jefferies Financial Group cut their price objective on Paychex from $82.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. Citigroup downgraded Paychex from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, March 18th. Robert W. Baird cut their price objective on Paychex from $87.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Finally, Deutsche Bank cut their price objective on Paychex from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Paychex has an average rating of “Hold” and an average price target of $70.82.
In other Paychex news, Director Tom Bonadio acquired 1,650 shares of Paychex stock in a transaction on Friday, March 27th. The shares were bought at an average price of $60.59 per share, with a total value of $99,973.50. Following the completion of the purchase, the director now owns 15,157 shares in the company, valued at $918,362.63. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.70% of the stock is currently owned by insiders.
Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
See Also: Dow Jones Industrial Average (DJIA)
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.