Dimensional Fund Advisors LP Boosts Stake in Paychex, Inc. (NASDAQ:PAYX)

Dimensional Fund Advisors LP raised its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,683,141 shares of the business services provider's stock after purchasing an additional 105,133 shares during the period. Dimensional Fund Advisors LP owned 0.75% of Paychex worth $376,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PAYX. Miracle Mile Advisors LLC raised its stake in shares of Paychex by 91.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider's stock worth $1,515,000 after acquiring an additional 5,153 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Paychex by 2.8% during the third quarter. Franklin Resources Inc. now owns 997,930 shares of the business services provider's stock worth $142,055,000 after purchasing an additional 27,296 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Paychex by 120.0% in the 4th quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider's stock worth $973,000 after purchasing an additional 3,783 shares in the last quarter. PFW Advisors LLC purchased a new position in Paychex during the 4th quarter worth $2,405,000. Finally, Principal Financial Group Inc. increased its position in Paychex by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 424,160 shares of the business services provider's stock valued at $56,918,000 after buying an additional 13,702 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Paychex Price Performance

Shares of NASDAQ:PAYX traded down $1.27 during trading on Friday, reaching $142.94. 522,795 shares of the company's stock traded hands, compared to its average volume of 1,913,204. 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 fifty-two week low of $115.40 and a fifty-two week high of $158.37. The company has a 50-day simple moving average of $147.56 and a 200-day simple moving average of $144.72. The firm has a market cap of $51.49 billion, a PE ratio of 30.09, a P/E/G ratio of 4.10 and a beta of 0.88.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share 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 the consensus estimate of $1.51 billion. During the same period in the prior year, the company posted $1.38 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Insider Transactions at Paychex

In related news, Director Joseph M. Velli sold 3,650 shares of Paychex stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the sale, the director now directly owns 78,455 shares in the company, valued at approximately $11,709,408.75. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.40% of the company's stock.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of research analyst reports. Barclays boosted 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. Cfra Research upgraded shares of Paychex to a "hold" rating in a research note on Thursday, March 27th. Citigroup lifted their price objective on shares of Paychex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Stifel Nicolaus increased their price target on shares of Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, March 27th. Finally, Morgan Stanley lifted their price objective on shares of Paychex from $137.00 to $142.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $141.00.

Paychex Company 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.