Ausdal Financial Partners Inc. Sells 1,071 Shares of Paychex, Inc. (NASDAQ:PAYX)

Ausdal Financial Partners Inc. reduced its holdings in shares of Paychex, Inc. (NASDAQ:PAYXFree Report) by 21.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,924 shares of the business services provider’s stock after selling 1,071 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Paychex were worth $467,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Paychex by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 29,931,007 shares of the business services provider’s stock worth $3,451,943,000 after acquiring an additional 170,453 shares in the last quarter. Capital International Investors grew its stake in shares of Paychex by 29.2% during the 2nd quarter. Capital International Investors now owns 18,823,690 shares of the business services provider’s stock worth $2,105,599,000 after acquiring an additional 4,253,202 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Paychex by 8.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,331,387 shares of the business services provider’s stock worth $1,306,849,000 after acquiring an additional 927,584 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Paychex by 4.1% in the second quarter. Geode Capital Management LLC now owns 8,310,643 shares of the business services provider’s stock valued at $928,283,000 after buying an additional 328,614 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paychex by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,797,671 shares of the business services provider’s stock valued at $783,975,000 after buying an additional 178,316 shares in the last quarter. 72.18% of the stock is owned by institutional investors.

Paychex Stock Up 1.6 %

PAYX opened at $123.00 on Thursday. Paychex, Inc. has a fifty-two week low of $104.09 and a fifty-two week high of $129.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $44.26 billion, a P/E ratio of 27.33, a P/E/G ratio of 3.27 and a beta of 0.94. The stock has a fifty day moving average of $121.86 and a 200-day moving average of $119.52.

Paychex (NASDAQ:PAYXGet Free Report) last posted its earnings results on Thursday, December 21st. The business services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Paychex had a return on equity of 46.37% and a net margin of 31.62%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Paychex, Inc. will post 4.72 EPS for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.56 annualized dividend and a yield of 2.89%. Paychex’s dividend payout ratio is 79.11%.

Paychex declared that its Board of Directors has approved a stock buyback program on Friday, January 19th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

PAYX has been the subject of several analyst reports. TD Cowen reissued a “market perform” rating and issued a $123.00 target price (down from $132.00) on shares of Paychex in a research note on Friday, December 22nd. JPMorgan Chase & Co. decreased their target price on shares of Paychex from $134.00 to $126.00 and set an “underweight” rating for the company in a research note on Friday, December 22nd. Barclays cut their price target on Paychex from $126.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, December 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $130.00 price target on shares of Paychex in a report on Friday, December 22nd. Finally, Citigroup cut their price target on Paychex from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.17.

View Our Latest Research Report on PAYX

Insider Buying and Selling

In related news, Director David J. S. Flaschen sold 16,031 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $119.79, for a total transaction of $1,920,353.49. Following the completion of the sale, the director now owns 5,383 shares of the company’s stock, valued at $644,829.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David J. S. Flaschen sold 16,031 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $119.79, for a total transaction of $1,920,353.49. Following the completion of the sale, the director now owns 5,383 shares of the company’s stock, valued at $644,829.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Anthony Bottini sold 15,481 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $120.53, for a total value of $1,865,924.93. Following the transaction, the vice president now directly owns 82,690 shares of the company’s stock, valued at approximately $9,966,625.70. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by company insiders.

About Paychex

(Free Report)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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