DekaBank Deutsche Girozentrale Lowers Stake in Paychex, Inc. (NASDAQ:PAYX)


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DekaBank Deutsche Girozentrale cut its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,557 shares of the business services provider’s stock after selling 9,304 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.07% of Paychex worth $22,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYX. JJJ Advisors Inc. grew its holdings in shares of Paychex by 857.1% during the fourth quarter. JJJ Advisors Inc. now owns 268 shares of the business services provider’s stock worth $25,000 after buying an additional 240 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of Paychex during the fourth quarter worth about $25,000. Reby Advisors LLC purchased a new stake in shares of Paychex during the fourth quarter worth about $28,000. Pflug Koory LLC purchased a new stake in shares of Paychex during the fourth quarter worth about $30,000. Finally, Birchcreek Wealth Management LLC purchased a new stake in Paychex in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

NASDAQ PAYX opened at $94.81 on Thursday. The company’s fifty day simple moving average is $94.82 and its 200-day simple moving average is $89.98. Paychex, Inc. has a 52 week low of $60.00 and a 52 week high of $101.15. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The stock has a market cap of $34.19 billion, a P/E ratio of 32.36, a PEG ratio of 3.81 and a beta of 0.90.

Paychex (NASDAQ:PAYX) last posted its earnings results on Monday, April 5th. The business services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Paychex had a net margin of 26.66% and a return on equity of 37.99%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts expect that Paychex, Inc. will post 2.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Investors of record on Monday, February 1st were issued a $0.62 dividend. The ex-dividend date was Friday, January 29th. This represents a $2.48 annualized dividend and a yield of 2.62%. Paychex’s dividend payout ratio is presently 82.67%.

In related news, CEO Martin Mucci sold 50,000 shares of the company’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $91.09, for a total value of $4,554,500.00. Also, VP John B. Gibson sold 82,488 shares of the company’s stock in a transaction on Tuesday, February 2nd. The shares were sold at an average price of $89.79, for a total transaction of $7,406,597.52. Corporate insiders own 11.70% of the company’s stock.

A number of research firms recently issued reports on PAYX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Paychex from $81.00 to $98.00 and gave the company a “hold” rating in a report on Monday, January 4th. Smith Barney Citigroup boosted their target price on shares of Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. BMO Capital Markets boosted their target price on shares of Paychex from $93.00 to $96.00 and gave the company a “market perform” rating in a report on Wednesday. Bank of America boosted their target price on shares of Paychex from $70.00 to $81.00 in a report on Monday, December 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Paychex from $93.00 to $105.00 in a research report on Tuesday, January 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Paychex has a consensus rating of “Hold” and an average price target of $93.00.

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 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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