Outlook Wealth Advisors LLC Increases Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Outlook Wealth Advisors LLC lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,847 shares of the business services provider’s stock after buying an additional 196 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Paychex were worth $382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PAYX. Capital International Investors grew its holdings in Paychex by 12.8% during the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after buying an additional 2,373,894 shares during the last quarter. Capital World Investors boosted its stake in shares of Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after acquiring an additional 1,508,681 shares during the last quarter. International Assets Investment Management LLC increased its position in Paychex by 38,655.2% during the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after purchasing an additional 797,843 shares in the last quarter. TD Asset Management Inc raised its stake in Paychex by 57.2% in the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock valued at $267,695,000 after purchasing an additional 793,468 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Paychex by 85.1% in the 1st quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock valued at $154,263,000 after purchasing an additional 579,136 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Performance

Paychex stock opened at $140.33 on Friday. The company has a market cap of $50.50 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00. Paychex, Inc. has a 12 month low of $106.27 and a 12 month high of $144.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50-day moving average is $134.98 and its 200-day moving average is $126.82.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $1.14 earnings per share. Paychex’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.79%. Paychex’s dividend payout ratio is currently 83.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. TD Cowen increased their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. UBS Group lifted their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Citigroup increased their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.77.

Insiders Place Their Bets

In other news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the transaction, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael E. Gioja sold 26,428 shares of Paychex stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the sale, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,608 shares of company stock worth $9,384,512 over the last quarter. 11.40% of the stock is owned by corporate insiders.

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.