Capital Research Global Investors Has $213.05 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Capital Research Global Investors raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,519,430 shares of the business services provider's stock after purchasing an additional 460,295 shares during the period. Capital Research Global Investors owned about 0.42% of Paychex worth $213,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYX. Meeder Asset Management Inc. increased its stake in Paychex by 220.7% during the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider's stock valued at $26,000 after buying an additional 128 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Paychex in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in Paychex during the fourth quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in Paychex during the fourth quarter worth approximately $33,000. Finally, Avion Wealth grew its position in Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after buying an additional 202 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Down 0.7 %

Shares of NASDAQ:PAYX traded down $1.00 during trading on Friday, reaching $143.21. 1,394,929 shares of the company traded hands, compared to its average volume of 1,919,428. The firm has a fifty day simple moving average of $147.46 and a 200 day simple moving average of $144.76. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 1-year low of $115.40 and a 1-year high of $158.37. The firm has a market cap of $51.58 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $1.38 earnings per share. Paychex's quarterly revenue was up 4.8% compared to the same quarter last year. Analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the transaction, the director now directly owns 78,455 shares in the company, valued at $11,709,408.75. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PAYX shares. Cfra Research upgraded Paychex to a "hold" rating in a research report on Thursday, March 27th. Citigroup upped their target price on Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Barclays lifted their price target on Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Monday, March 31st. Stifel Nicolaus upped their price objective on shares of Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group lifted their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. According to MarketBeat, Paychex has an average rating of "Hold" and a consensus price target of $141.00.

Paychex Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.