Deutsche Bank AG Sells 627,813 Shares of Paychex, Inc. (PAYX)

Deutsche Bank AG lowered its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 47.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 683,252 shares of the business services provider’s stock after selling 627,813 shares during the quarter. Deutsche Bank AG’s holdings in Paychex were worth $46,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PAYX. New York State Common Retirement Fund raised its holdings in shares of Paychex by 2.7% during the 3rd quarter. New York State Common Retirement Fund now owns 944,900 shares of the business services provider’s stock valued at $56,656,000 after purchasing an additional 25,100 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Paychex by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 131,063 shares of the business services provider’s stock valued at $7,860,000 after purchasing an additional 14,007 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Paychex by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 739,215 shares of the business services provider’s stock valued at $44,323,000 after purchasing an additional 9,798 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Paychex by 18.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 90,134 shares of the business services provider’s stock valued at $5,404,000 after purchasing an additional 13,777 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Paychex by 1.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 81,606 shares of the business services provider’s stock valued at $4,893,000 after purchasing an additional 817 shares in the last quarter. Institutional investors and hedge funds own 68.74% of the company’s stock.

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Paychex, Inc. (NASDAQ PAYX) opened at $66.40 on Friday. The company has a market cap of $23,850.00, a price-to-earnings ratio of 28.50, a P/E/G ratio of 3.56 and a beta of 0.96. Paychex, Inc. has a twelve month low of $54.20 and a twelve month high of $73.10.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. The firm had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. equities analysts expect that Paychex, Inc. will post 2.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a $0.50 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.00 annualized dividend and a yield of 3.01%. Paychex’s dividend payout ratio (DPR) is presently 85.84%.

A number of research analysts have recently weighed in on PAYX shares. BidaskClub upgraded shares of Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Bank of America raised their price target on shares of Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target on the stock in a report on Monday, December 4th. Stifel Nicolaus restated a “hold” rating and set a $68.00 price target on shares of Paychex in a report on Friday, December 22nd. Finally, BMO Capital Markets restated a “hold” rating and set a $70.00 price target on shares of Paychex in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Paychex currently has an average rating of “Hold” and a consensus price target of $62.77.

In related news, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the transaction, the insider now owns 63,374 shares in the company, valued at approximately $4,367,102.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total transaction of $682,900.00. Following the completion of the transaction, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

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About Paychex

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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