Hendershot Investments Inc. Has $8.89 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Hendershot Investments Inc. raised its position in Paychex, Inc. (NASDAQ:PAYX) by 0.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 66,277 shares of the business services provider’s stock after purchasing an additional 351 shares during the period. Hendershot Investments Inc.’s holdings in Paychex were worth $8,894,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Czech National Bank lifted its holdings in Paychex by 8.3% in the second quarter. Czech National Bank now owns 61,049 shares of the business services provider’s stock valued at $7,238,000 after buying an additional 4,703 shares during the period. PGGM Investments lifted its stake in shares of Paychex by 57.7% in the 2nd quarter. PGGM Investments now owns 21,703 shares of the business services provider’s stock valued at $2,573,000 after purchasing an additional 7,943 shares during the period. Raymond James & Associates boosted its position in shares of Paychex by 27.4% during the 3rd quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock valued at $132,636,000 after purchasing an additional 212,700 shares in the last quarter. Guinness Asset Management LTD grew its stake in Paychex by 4.6% during the third quarter. Guinness Asset Management LTD now owns 1,567,667 shares of the business services provider’s stock worth $210,282,000 after purchasing an additional 68,627 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in shares of Paychex by 7.2% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,703,913 shares of the business services provider’s stock worth $202,016,000 after buying an additional 114,132 shares during the period. 83.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This trade represents a 42.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael E. Gioja sold 14,731 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the sale, the vice president now owns 14,515 shares in the company, valued at approximately $2,020,197.70. This represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,174 shares of company stock worth $7,577,231 over the last ninety days. 11.40% of the stock is currently owned by company insiders.

Paychex Trading Up 0.3 %

NASDAQ PAYX opened at $142.86 on Friday. The business’s fifty day moving average is $142.25 and its 200-day moving average is $131.27. 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 has a market capitalization of $51.42 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.96 and a beta of 0.99. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71.

Paychex (NASDAQ:PAYX) last released its 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 earned $1.14 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is 83.58%.

Wall Street Analysts Forecast Growth

PAYX has been the topic of a number of research reports. TD Cowen upped their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, Paychex presently has a consensus rating of “Hold” and an average price target of $131.62.

Paychex 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.