LS Investment Advisors LLC reduced its holdings in Paychex, Inc. (NASDAQ:PAYX) by 16.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,025 shares of the business services provider’s stock after selling 4,976 shares during the period. LS Investment Advisors LLC’s holdings in Paychex were worth $1,704,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Paychex by 3.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 31,669 shares of the business services provider’s stock worth $2,156,000 after buying an additional 908 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Paychex by 2.4% in the fourth quarter. Whittier Trust Co. now owns 99,490 shares of the business services provider’s stock worth $6,774,000 after buying an additional 2,362 shares in the last quarter. Keystone Financial Planning Inc. lifted its stake in shares of Paychex by 6.8% in the fourth quarter. Keystone Financial Planning Inc. now owns 95,384 shares of the business services provider’s stock worth $6,494,000 after buying an additional 6,108 shares in the last quarter. First Business Financial Services Inc. lifted its stake in shares of Paychex by 16.1% in the fourth quarter. First Business Financial Services Inc. now owns 11,179 shares of the business services provider’s stock worth $761,000 after buying an additional 1,549 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Paychex by 1.6% in the fourth quarter. Swiss National Bank now owns 1,882,803 shares of the business services provider’s stock worth $128,181,000 after buying an additional 29,500 shares in the last quarter. 67.98% of the stock is currently owned by hedge funds and other institutional investors.

In other Paychex news, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the completion of the sale, the insider now directly owns 63,374 shares in the company, valued at $4,367,102.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total transaction of $682,900.00. Following the sale, the vice president now owns 31,578 shares of the company’s stock, valued at $2,156,461.62. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.

Several research firms have recently weighed in on PAYX. BMO Capital Markets reissued a “hold” rating and issued a $70.00 price target on shares of Paychex in a research note on Wednesday, January 24th. BidaskClub downgraded shares of Paychex from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Bank of America downgraded shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research note on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $68.00 price target on shares of Paychex in a research note on Friday, December 22nd. Finally, Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target on the stock in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.77.

Paychex, Inc. (NASDAQ PAYX) opened at $64.69 on Tuesday. Paychex, Inc. has a 52 week low of $54.20 and a 52 week high of $73.10. The company has a market cap of $23,045.34, a PE ratio of 27.90, a price-to-earnings-growth ratio of 3.45 and a beta of 0.94.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The company had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. During the same period in the previous year, the firm earned $0.56 earnings per share. Paychex’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts predict that Paychex, Inc. will post 2.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is presently 85.84%.

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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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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