Retirement Systems of Alabama raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,812 shares of the business services provider’s stock after purchasing an additional 1,184 shares during the period. Retirement Systems of Alabama’s holdings in Paychex were worth $11,935,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Exeter Financial LLC lifted its stake in shares of Paychex by 1.0% in the 1st quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock worth $1,027,000 after acquiring an additional 128 shares during the period. Aurora Investment Counsel acquired a new stake in shares of Paychex in the 4th quarter worth approximately $1,963,000. Hancock Whitney Corp lifted its stake in shares of Paychex by 14.4% in the 4th quarter. Hancock Whitney Corp now owns 35,647 shares of the business services provider’s stock worth $2,322,000 after acquiring an additional 4,485 shares during the period. Cetera Advisors LLC lifted its stake in shares of Paychex by 2.1% in the 4th quarter. Cetera Advisors LLC now owns 13,439 shares of the business services provider’s stock worth $884,000 after acquiring an additional 281 shares during the period. Finally, Buckingham Capital Management Inc. lifted its stake in shares of Paychex by 1.0% in the 3rd quarter. Buckingham Capital Management Inc. now owns 18,175 shares of the business services provider’s stock worth $1,339,000 after acquiring an additional 183 shares during the period. 68.66% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Pamela A. Joseph sold 19,154 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $81.19, for a total transaction of $1,555,113.26. Following the sale, the director now owns 13,448 shares in the company, valued at $1,091,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph M. Tucci sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $82.29, for a total transaction of $514,312.50. Following the sale, the director now owns 56,117 shares in the company, valued at approximately $4,617,867.93. The disclosure for this sale can be found here. Insiders sold a total of 209,272 shares of company stock worth $16,042,029 over the last quarter. Insiders own 11.80% of the company’s stock.

NASDAQ PAYX opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.11. Paychex, Inc. has a 12 month low of $59.55 and a 12 month high of $82.64. The company has a market capitalization of $29.30 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 3.20 and a beta of 1.04.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, March 27th. The business services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. Paychex had a net margin of 28.19% and a return on equity of 43.20%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts expect that Paychex, Inc. will post 2.86 EPS for the current fiscal year.

A number of analysts have recently weighed in on PAYX shares. Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $64.00 to $68.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Barclays upped their price target on shares of Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, April 1st. Finally, Credit Suisse Group upped their price target on shares of Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Paychex currently has a consensus rating of “Hold” and an average price target of $74.14.

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Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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