Paychex, Inc. (NASDAQ:PAYX) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. decreased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,974,289 shares of the business services provider’s stock after selling 149,845 shares during the quarter. TD Asset Management Inc.’s holdings in Paychex were worth $276,835,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Paychex by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 30,548 shares of the business services provider’s stock worth $4,099,000 after purchasing an additional 285 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Paychex during the 3rd quarter valued at $36,000. Larson Financial Group LLC raised its stake in shares of Paychex by 23.6% in the 3rd quarter. Larson Financial Group LLC now owns 613 shares of the business services provider’s stock worth $82,000 after buying an additional 117 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Paychex by 52.1% in the third quarter. Summit Trail Advisors LLC now owns 8,505 shares of the business services provider’s stock valued at $1,141,000 after buying an additional 2,914 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Paychex by 10.5% in the third quarter. Daiwa Securities Group Inc. now owns 76,916 shares of the business services provider’s stock valued at $10,321,000 after buying an additional 7,334 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAYX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. UBS Group lifted their price objective on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat, Paychex presently has an average rating of “Hold” and an average price target of $133.23.

Paychex Stock Up 1.3 %

Shares of NASDAQ:PAYX opened at $144.83 on Tuesday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $52.15 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. The firm has a 50 day simple moving average of $147.86 and a 200 day simple moving average of $142.89.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.71%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Paychex Company Profile

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.