Pensionfund Sabic Has $1.87 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Pensionfund Sabic lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,300 shares of the business services provider’s stock after selling 2,500 shares during the quarter. Pensionfund Sabic’s holdings in Paychex were worth $1,869,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAYX. Aurora Investment Counsel purchased a new stake in Paychex in the fourth quarter worth $1,963,000. Hancock Whitney Corp lifted its position in Paychex by 14.4% during the fourth quarter. Hancock Whitney Corp now owns 35,647 shares of the business services provider’s stock valued at $2,322,000 after buying an additional 4,485 shares during the period. Cetera Advisors LLC lifted its position in Paychex by 2.1% during the fourth quarter. Cetera Advisors LLC now owns 13,439 shares of the business services provider’s stock valued at $884,000 after buying an additional 281 shares during the period. Buckingham Capital Management Inc. lifted its position in Paychex by 1.0% during the third quarter. Buckingham Capital Management Inc. now owns 18,175 shares of the business services provider’s stock valued at $1,339,000 after buying an additional 183 shares during the period. Finally, Geneva Partners LLC purchased a new position in Paychex during the fourth quarter valued at $459,000. 68.66% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Martin Mucci sold 50,000 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $72.32, for a total transaction of $3,616,000.00. Following the completion of the transaction, the chief executive officer now directly owns 349,929 shares in the company, valued at $25,306,865.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Laurie L. Zaucha sold 5,534 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $80.89, for a total value of $447,645.26. Following the transaction, the vice president now owns 43,955 shares of the company’s stock, valued at $3,555,519.95. The disclosure for this sale can be found here. Insiders have sold 209,272 shares of company stock valued at $16,042,029 over the last 90 days. Corporate insiders own 11.80% of the company’s stock.

PAYX has been the subject of several recent research reports. Barclays raised their price objective on Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, April 1st. Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $64.00 to $68.00 in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paychex presently has an average rating of “Hold” and a consensus price target of $74.14.

Shares of NASDAQ:PAYX opened at $83.58 on Wednesday. Paychex, Inc. has a 1-year low of $59.55 and a 1-year high of $83.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $30.01 billion, a PE ratio of 32.78, a P/E/G ratio of 3.18 and a beta of 1.04.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that Paychex, Inc. will post 2.85 EPS for the current fiscal year.

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Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company 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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