SG Americas Securities LLC Lowers Stock Position in Paychex, Inc. $PAYX

SG Americas Securities LLC lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 312,328 shares of the business services provider’s stock after selling 9,854 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of Paychex worth $28,772,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PAYX. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Paychex in the 3rd quarter valued at about $27,000. Stance Capital LLC acquired a new stake in Paychex in the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC acquired a new stake in Paychex in the fourth quarter valued at approximately $31,000. Caitlin John LLC purchased a new stake in shares of Paychex in the third quarter valued at approximately $36,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Paychex during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 2.1%

PAYX opened at $97.99 on Wednesday. The stock has a market capitalization of $35.11 billion, a PE ratio of 21.58 and a beta of 0.84. Paychex, Inc. has a one year low of $85.45 and a one year high of $152.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.26 and a current ratio of 1.26. The business’s 50 day moving average price is $95.13 and its 200 day moving average price is $99.36.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts expect that Paychex, Inc. will post 5.49 EPS for the current year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from Paychex’s previous quarterly dividend of $1.08. Paychex’s dividend payout ratio is 104.85%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Paychex from $110.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Robert W. Baird reduced their price objective on shares of Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. BMO Capital Markets lifted their target price on shares of Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Finally, Stifel Nicolaus boosted their target price on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.07.

About Paychex

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.