Aviva PLC raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 103.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,175 shares of the business services provider's stock after buying an additional 101,177 shares during the period. Aviva PLC owned about 0.06% of Paychex worth $27,928,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Paychex by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider's stock valued at $4,419,878,000 after buying an additional 174,817 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 acquiring an additional 519,761 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $1,339,463,000 after purchasing an additional 126,962 shares during the period. Barclays PLC grew its stake in Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider's stock worth $234,627,000 after purchasing an additional 552,540 shares in the last quarter. Finally, Guinness Asset Management LTD increased its holdings in Paychex by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider's stock worth $231,295,000 after purchasing an additional 82,091 shares during the period. Institutional investors own 83.47% of the company's stock.
Paychex Stock Up 1.5 %
PAYX stock traded up $2.16 on Friday, hitting $146.57. 623,662 shares of the company's stock were exchanged, compared to its average volume of 1,915,902. The firm has a 50 day moving average price of $148.17 and a two-hundred day moving average price of $144.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $158.37. The stock has a market cap of $52.79 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88.
Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. As a group, equities research analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Monday, March 31st. Morgan Stanley raised their target price on shares of Paychex from $137.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Stifel Nicolaus upped their price target on shares of Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, March 27th. Royal Bank of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, UBS Group upped their target price on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Two investment 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 currently has a consensus rating of "Hold" and an average price target of $141.00.
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About Paychex
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Free Report)
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.
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