Dean Investment Associates LLC Has $3.66 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Dean Investment Associates LLC cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,082 shares of the business services provider’s stock after selling 308 shares during the period. Dean Investment Associates LLC’s holdings in Paychex were worth $3,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position 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 position in shares of Paychex during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Paychex in the fourth quarter worth $33,000. Finally, Avion Wealth boosted its holdings in Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Down 1.4 %

Shares of NASDAQ PAYX opened at $145.57 on Thursday. The stock has a market capitalization of $52.43 billion, a P/E ratio of 30.65, a P/E/G ratio of 4.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 1 year low of $115.40 and a 1 year high of $158.37. The company has a 50-day moving average price of $148.01 and a 200-day moving average price of $144.52.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cfra Research upgraded shares of Paychex to a “hold” rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Barclays boosted their target price on shares of Paychex from $140.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, March 31st. Citigroup boosted their price objective on shares of Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley lifted their price target on Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.00.

Insider Transactions at Paychex

In other news, Director Joseph M. Velli sold 3,650 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the transaction, the director now owns 78,455 shares of the company’s stock, valued at $11,709,408.75. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.40% of the company’s stock.

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.