Nisa Investment Advisors LLC Sells 4,283 Shares of Paychex, Inc. (NASDAQ:PAYX)

Nisa Investment Advisors LLC decreased its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,894 shares of the business services provider's stock after selling 4,283 shares during the quarter. Nisa Investment Advisors LLC's holdings in Paychex were worth $14,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Czech National Bank boosted its stake in shares of Paychex by 8.3% in the second quarter. Czech National Bank now owns 61,049 shares of the business services provider's stock worth $7,238,000 after acquiring an additional 4,703 shares during the period. Nordea Investment Management AB boosted its stake in shares of Paychex by 85.1% in the first quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider's stock worth $154,263,000 after acquiring an additional 579,136 shares during the period. HBK Sorce Advisory LLC boosted its stake in shares of Paychex by 4.9% in the first quarter. HBK Sorce Advisory LLC now owns 10,250 shares of the business services provider's stock worth $1,259,000 after acquiring an additional 477 shares during the period. Sei Investments Co. boosted its stake in shares of Paychex by 5.8% in the first quarter. Sei Investments Co. now owns 110,113 shares of the business services provider's stock worth $13,522,000 after acquiring an additional 6,033 shares during the period. Finally, BDF Gestion bought a new position in shares of Paychex in the second quarter worth about $2,796,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays upped their price objective on Paychex from $118.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Monday, September 23rd. UBS Group increased their price target on Paychex from $125.00 to $142.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on Paychex from $125.00 to $145.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Paychex from $120.00 to $128.00 and gave the company an "underweight" rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley increased their price target on Paychex from $122.00 to $133.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $130.77.

Insider Transactions at Paychex

In other news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the sale, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the sale, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 13,015 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the transaction, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,608 shares of company stock worth $9,384,512. 11.40% of the stock is currently owned by company insiders.

Paychex Trading Down 0.3 %

Shares of NASDAQ:PAYX traded down $0.48 during trading on Wednesday, hitting $141.39. The company had a trading volume of 1,433,323 shares, compared to its average volume of 1,787,199. The stock has a market cap of $50.89 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. Paychex, Inc. has a one year low of $106.27 and a one year high of $144.17. The company has a fifty day simple moving average of $135.90 and a two-hundred day simple moving average of $127.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $1.14 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.77%. Paychex's payout ratio is 83.58%.

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.