4,421 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by World Investment Advisors LLC

World Investment Advisors LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,421 shares of the business services provider's stock, valued at approximately $593,000.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC increased its position in Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider's stock worth $186,000 after buying an additional 74 shares during the period. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock valued at $34,000 after purchasing an additional 74 shares during the period. Kanawha Capital Management LLC grew its position in Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider's stock worth $575,000 after purchasing an additional 75 shares during the last quarter. Baron Wealth Management LLC increased its stake in shares of Paychex by 2.2% in the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider's stock valued at $487,000 after purchasing an additional 79 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider's stock valued at $1,167,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Price Performance

Shares of NASDAQ PAYX traded down $0.92 during trading on Tuesday, hitting $140.28. The company had a trading volume of 3,504,875 shares, compared to its average volume of 1,782,183. The business's 50-day moving average is $142.78 and its 200 day moving average is $132.28. The company has a market cap of $50.49 billion, a P/E ratio of 30.11, a PEG ratio of 3.88 and a beta of 0.99. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current 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 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The company's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Equities research analysts predict 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 was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, November 7th. Paychex's dividend payout ratio (DPR) is 83.58%.

Wall Street Analyst Weigh In

Several analysts recently commented on PAYX shares. Citigroup raised their target price on Paychex from $125.00 to $145.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Barclays raised their price target on Paychex from $118.00 to $132.00 and gave the company an "equal weight" rating in a report on Monday, September 23rd. TD Cowen upped their price objective on shares of Paychex from $126.00 to $131.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on shares of Paychex from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Finally, UBS Group boosted their price target on shares of Paychex from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $131.62.

Insider Buying and Selling

In other news, VP Michael E. Gioja sold 14,731 shares of the firm's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the completion of the sale, the vice president now directly owns 14,515 shares of the company's stock, valued at $2,020,197.70. This trade represents a 50.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert L. Schrader sold 13,015 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares of the company's stock, valued at approximately $2,471,480.70. The trade was a 42.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,174 shares of company stock worth $7,577,231. 11.40% of the stock is owned by company insiders.

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.