Virtu Financial LLC Trims Holdings in Paychex, Inc. (PAYX)

Virtu Financial LLC decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 48.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,198 shares of the business services provider’s stock after selling 10,384 shares during the quarter. Virtu Financial LLC’s holdings in Paychex were worth $898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. grew its stake in shares of Paychex by 404.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock valued at $26,000 after buying an additional 255 shares in the last quarter. We Are One Seven LLC bought a new stake in shares of Paychex in the 4th quarter valued at approximately $25,000. Liberty Wealth Management LLC acquired a new stake in Paychex in the 4th quarter worth approximately $25,000. Baldwin Brothers Inc. MA acquired a new stake in Paychex in the 4th quarter worth approximately $27,000. Finally, Loeb Partners Corp acquired a new stake in Paychex in the 4th quarter worth approximately $39,000. 68.83% of the stock is owned by institutional investors.

Shares of PAYX traded up $0.12 during trading hours on Thursday, hitting $84.31. 2,119,400 shares of the stock traded hands, compared to its average volume of 1,891,742. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. Paychex, Inc. has a 1-year low of $61.32 and a 1-year high of $84.85. The firm has a market capitalization of $29.98 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 3.29 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 (EPS) 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts anticipate that Paychex, Inc. will post 2.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Paychex’s previous quarterly dividend of $0.56. Paychex’s dividend payout ratio (DPR) is currently 87.84%.

A number of research analysts have recently commented on the company. Credit Suisse Group upped their price target on Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Sanford C. Bernstein lowered Paychex from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 30th. Finally, Barclays upped their target price on Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $74.14.

In related news, Director Pamela A. Joseph sold 19,154 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $81.19, for a total transaction of $1,555,113.26. Following the completion of the transaction, the director now directly owns 13,448 shares in the company, valued at $1,091,843.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.24, for a total value of $842,400.00. Following the transaction, the vice president now owns 31,701 shares of the company’s stock, valued at $2,670,492.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,671 shares of company stock worth $14,022,221. 11.80% of the stock is currently owned by insiders.

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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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