26,145 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by JPL Wealth Management LLC

JPL Wealth Management LLC purchased a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,145 shares of the business services provider's stock, valued at approximately $3,666,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA acquired a new position in Paychex in the fourth quarter valued at about $28,000. Avion Wealth increased its stake in shares of 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 buying an additional 202 shares during the period. MilWealth Group LLC purchased a new stake in shares of Paychex during the fourth quarter worth approximately $35,000. Asset Planning Inc purchased a new stake in shares of Paychex during the fourth quarter worth approximately $36,000. Finally, Quest Partners LLC purchased a new position in Paychex in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $145.01 on Thursday. The business has a 50 day moving average price of $146.84 and a 200 day moving average price of $141.97. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. The company has a market cap of $52.21 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 4.10 and a beta of 0.98. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Remove Ads

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $1.08 EPS. Paychex's revenue was up 4.7% on a year-over-year basis. Research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.70%. Paychex's dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PAYX shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, December 23rd. UBS Group increased their price objective on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. raised their price target on Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $133.23.

Paychex Company 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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.