Robeco Institutional Asset Management B.V. Sells 8,206 Shares of Paychex, Inc. (NASDAQ:PAYX)

Robeco Institutional Asset Management B.V. reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,050 shares of the business services provider's stock after selling 8,206 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Paychex were worth $8,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC bought a new position in Paychex in the first quarter valued at approximately $231,000. Larson Financial Group LLC increased its stake in shares of Paychex by 201.7% in the 1st quarter. Larson Financial Group LLC now owns 528 shares of the business services provider's stock valued at $65,000 after acquiring an additional 353 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Paychex by 3.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider's stock valued at $312,000 after acquiring an additional 92 shares during the last quarter. Advisory Services Network LLC raised its holdings in Paychex by 3.1% in the first quarter. Advisory Services Network LLC now owns 30,020 shares of the business services provider's stock worth $3,686,000 after purchasing an additional 900 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of Paychex by 3.5% during the first quarter. Empirical Finance LLC now owns 11,577 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 396 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Michael E. Gioja sold 26,428 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the transaction, the vice president now directly owns 14,515 shares of the company's stock, valued at $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the sale, the vice president now owns 14,515 shares in the company, valued at approximately $2,018,020.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert L. Schrader sold 13,015 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the completion of the transaction, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,174 shares of company stock valued at $7,577,231 in the last three months. 11.40% of the stock is currently owned by insiders.

Paychex Stock Up 1.7 %

Shares of NASDAQ:PAYX traded up $2.43 during trading on Friday, reaching $148.98. 788,614 shares of the stock were exchanged, compared to its average volume of 1,784,013. The firm has a market cap of $53.62 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 3.84 and a beta of 0.99. The stock has a fifty day moving average of $137.06 and a two-hundred day moving average of $127.93. 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, Inc. has a 1-year low of $113.70 and a 1-year high of $149.26.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.63%. Paychex's dividend payout ratio (DPR) is currently 83.58%.

Analyst Ratings Changes

PAYX has been the topic of several research analyst reports. TD Cowen raised their price objective on Paychex from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on Paychex from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on shares of Paychex from $120.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on shares of Paychex from $125.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada lifted their target price on Paychex from $130.00 to $148.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, Paychex presently has an average rating of "Hold" and a consensus target price of $130.77.

About Paychex

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.