Brady Family Wealth LLC Has $210,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Brady Family Wealth LLC reduced its holdings in Paychex, Inc. (NASDAQ:PAYX) by 27.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,360 shares of the business services provider’s stock after selling 514 shares during the quarter. Brady Family Wealth LLC’s holdings in Paychex were worth $210,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in Paychex by 220.7% in the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider’s stock valued at $26,000 after buying an additional 128 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Paychex in the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC bought a new stake in shares of Paychex in the fourth quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new stake in shares of Paychex in the fourth quarter worth $33,000. Finally, BankPlus Trust Department bought a new position in Paychex during the fourth quarter worth $39,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Down 1.4%

Shares of NASDAQ:PAYX opened at $150.32 on Friday. The company’s fifty day moving average is $151.80 and its 200-day moving average is $147.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a 52 week low of $115.40 and a 52 week high of $161.24. The company has a market capitalization of $54.14 billion, a PE ratio of 31.32, a P/E/G ratio of 3.25 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Paychex had a net margin of 31.99% and a return on equity of 45.30%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, May 12th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from Paychex’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, May 12th. Paychex’s payout ratio is currently 90.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on PAYX shares. Citigroup increased their price target on shares of Paychex from $145.00 to $158.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Barclays upped their price target on Paychex from $140.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, March 31st. Stifel Nicolaus lifted their price objective on Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, March 27th. Cfra Research upgraded Paychex to a “hold” rating in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada raised their target price on Paychex from $148.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $143.36.

Insider Buying and Selling

In related news, Director Joseph M. Velli sold 3,650 shares of Paychex stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the completion of the sale, the director now directly owns 78,455 shares of the company’s stock, valued at $11,709,408.75. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.40% of the stock is owned by corporate insiders.

About Paychex

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.