SG Americas Securities LLC Sells 350,777 Shares of Paychex, Inc. (PAYX)
SG Americas Securities LLC reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 90.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,152 shares of the business services provider’s stock after selling 350,777 shares during the period. SG Americas Securities LLC’s holdings in Paychex were worth $2,108,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PAYX. Janus Henderson Group PLC boosted its position in shares of Paychex by 4,105.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,830,532 shares of the business services provider’s stock worth $104,230,000 after purchasing an additional 1,787,007 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Paychex by 2,391.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,362,988 shares of the business services provider’s stock worth $77,609,000 after purchasing an additional 1,308,288 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Paychex in the 2nd quarter worth $45,209,000. FMR LLC boosted its position in shares of Paychex by 6.2% in the 2nd quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock worth $596,514,000 after purchasing an additional 610,088 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Paychex by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock worth $1,312,089,000 after purchasing an additional 589,880 shares during the last quarter. Institutional investors and hedge funds own 67.65% of the company’s stock.
In other Paychex news, CEO Martin Mucci sold 29,786 shares of Paychex stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $63.17, for a total value of $1,881,581.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jennifer R. Vossler sold 11,155 shares of Paychex stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $63.07, for a total value of $703,545.85. The disclosure for this sale can be found here. Insiders sold a total of 94,395 shares of company stock worth $5,914,383 in the last three months. Company insiders own 11.70% of the company’s stock.
Several research analysts have recently issued reports on the company. Royal Bank Of Canada restated a “sell” rating and issued a $57.00 price target on shares of Paychex in a research report on Wednesday, November 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 price objective (up previously from $60.00) on shares of Paychex in a research note on Wednesday, October 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $59.00 price objective (up previously from $55.00) on shares of Paychex in a research note on Wednesday, October 4th. Robert W. Baird reaffirmed a “hold” rating and set a $64.00 price objective on shares of Paychex in a research note on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 price objective on shares of Paychex in a research note on Friday, August 18th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.07.
Shares of Paychex, Inc. (NASDAQ PAYX) opened at $64.69 on Friday. Paychex, Inc. has a 12 month low of $54.20 and a 12 month high of $66.31. The stock has a market capitalization of $23,241.41, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.51 and a beta of 0.99.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The firm had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. equities research analysts anticipate that Paychex, Inc. will post 2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Tuesday, October 31st. Paychex’s dividend payout ratio is 87.34%.
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Paychex Company Profile
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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