Insigneo Advisory Services LLC Sells 1,446 Shares of Paychex, Inc. (NASDAQ:PAYX)

Insigneo Advisory Services LLC lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 39.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,247 shares of the business services provider’s stock after selling 1,446 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Paychex were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PAYX. Vanguard Group Inc. lifted its stake in shares of Paychex by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider’s stock worth $4,419,878,000 after purchasing an additional 174,817 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Paychex by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock valued at $1,408,458,000 after buying an additional 519,761 shares during the last quarter. Geode Capital Management LLC raised its position in Paychex by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 9,541,034 shares of the business services provider’s stock worth $1,339,463,000 after acquiring an additional 126,962 shares during the period. Invesco Ltd. boosted its stake in shares of Paychex by 5.3% during the 4th quarter. Invesco Ltd. now owns 4,104,626 shares of the business services provider’s stock worth $575,551,000 after acquiring an additional 208,130 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Paychex by 2.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,299,297 shares of the business services provider’s stock worth $322,407,000 after acquiring an additional 56,622 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph M. Velli sold 3,650 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the transaction, the director now directly owns 78,455 shares of the company’s stock, valued at approximately $11,709,408.75. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PAYX shares. Citigroup raised their target price on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Barclays raised their price objective on Paychex from $140.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, March 31st. Morgan Stanley boosted their price objective on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Stifel Nicolaus raised their target price on shares of Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, March 27th. Finally, UBS Group upped their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.00.

Paychex Stock Performance

PAYX opened at $144.90 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $52.19 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.10 and a beta of 0.88. The company has a fifty day moving average of $147.94 and a 200 day moving average of $144.62. Paychex, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $158.37.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. As a group, sell-side analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

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.