APG Asset Management N.V. Has $46.20 Million Position in Paychex, Inc. (NASDAQ:PAYX)

APG Asset Management N.V. grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 120.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 341,153 shares of the business services provider's stock after purchasing an additional 186,390 shares during the period. APG Asset Management N.V. owned approximately 0.09% of Paychex worth $46,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Miracle Mile Advisors LLC lifted its holdings in shares of Paychex by 91.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider's stock valued at $1,515,000 after purchasing an additional 5,153 shares during the last quarter. Franklin Resources Inc. lifted its stake in Paychex by 2.8% during the third quarter. Franklin Resources Inc. now owns 997,930 shares of the business services provider's stock valued at $142,055,000 after buying an additional 27,296 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Paychex by 120.0% in the fourth quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider's stock worth $973,000 after acquiring an additional 3,783 shares in the last quarter. PFW Advisors LLC acquired a new stake in shares of Paychex during the fourth quarter valued at approximately $2,405,000. Finally, Geode Capital Management LLC raised its holdings in shares of Paychex by 2.1% during the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider's stock valued at $1,262,700,000 after acquiring an additional 190,937 shares during the period. 83.47% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Paychex Stock Up 0.8 %

Shares of NASDAQ PAYX traded up $1.17 during mid-day trading on Monday, reaching $147.92. 372,078 shares of the company's stock were exchanged, compared to its average volume of 1,915,337. Paychex, Inc. has a twelve month low of $115.40 and a twelve month high of $158.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $53.28 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 4.10 and a beta of 0.88. The business has a fifty day simple moving average of $148.12 and a 200 day simple moving average of $144.37.

Paychex (NASDAQ:PAYX - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. As a group, equities analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

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.