Albert D Mason Inc. lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,127 shares of the business services provider’s stock after selling 110 shares during the period. Paychex accounts for about 1.3% of Albert D Mason Inc.’s portfolio, making the stock its 24th largest position. Albert D Mason Inc.’s holdings in Paychex were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TNB Financial purchased a new position in Paychex during the first quarter worth $406,000. Marathon Asset Management LLP raised its position in Paychex by 8.9% in the first quarter. Marathon Asset Management LLP now owns 600,095 shares of the business services provider’s stock worth $35,345,000 after buying an additional 49,191 shares during the last quarter. First PREMIER Bank raised its position in Paychex by 3.0% in the first quarter. First PREMIER Bank now owns 7,763 shares of the business services provider’s stock worth $457,000 after buying an additional 229 shares during the last quarter. Univest Corp of Pennsylvania raised its position in Paychex by 5.5% in the first quarter. Univest Corp of Pennsylvania now owns 5,584 shares of the business services provider’s stock worth $329,000 after buying an additional 291 shares during the last quarter. Finally, National Pension Service raised its position in Paychex by 4.9% in the first quarter. National Pension Service now owns 290,658 shares of the business services provider’s stock worth $17,187,000 after buying an additional 13,699 shares during the last quarter. 68.60% of the stock is currently owned by institutional investors.

Shares of Paychex, Inc. (NASDAQ PAYX) traded down 0.04% during mid-day trading on Monday, reaching $56.07. 505,370 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $58.16 and its 200-day moving average price is $59.28. Paychex, Inc. has a 12-month low of $52.78 and a 12-month high of $63.03. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 24.92 and a beta of 0.96.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 28th. The business services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Paychex had a net margin of 25.93% and a return on equity of 42.65%. The firm had revenue of $799 million for the quarter, compared to analysts’ expectations of $797.70 million. During the same quarter in the prior year, the business earned $0.49 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that Paychex, Inc. will post $2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Tuesday, August 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, July 28th. This is a boost from Paychex’s previous quarterly dividend of $0.46.

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A number of research analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Paychex from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $64.00 in a research report on Tuesday, June 20th. Wedbush reissued a “neutral” rating and set a $61.25 price target (down from $65.00) on shares of Paychex in a research report on Tuesday, June 6th. BidaskClub raised shares of Paychex from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of Paychex in a research report on Thursday, June 29th. Finally, William Blair lowered shares of Paychex from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.16.

In other news, CEO Martin Mucci sold 33,294 shares of the stock in a transaction that occurred on Sunday, July 9th. The shares were sold at an average price of $57.40, for a total value of $1,911,075.60. Following the transaction, the chief executive officer now owns 254,618 shares in the company, valued at approximately $14,615,073.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laurie L. Zaucha sold 2,884 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $57.39, for a total transaction of $165,512.76. Following the completion of the transaction, the vice president now owns 32,906 shares in the company, valued at approximately $1,888,475.34. The disclosure for this sale can be found here. Insiders sold a total of 103,151 shares of company stock worth $5,916,158 in the last quarter. Company insiders own 11.60% of the company’s stock.

About Paychex

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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