9,071 Shares in Paychex, Inc. (NASDAQ:PAYX) Acquired by AXQ Capital LP

AXQ Capital LP bought a new stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,071 shares of the business services provider's stock, valued at approximately $1,272,000.

Several other institutional investors have also added to or reduced their stakes in PAYX. Union Bancaire Privee UBP SA bought a new position in shares of Paychex in the fourth quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex in the fourth quarter valued at about $33,000. Avion Wealth lifted its position in shares of Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider's stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. MilWealth Group LLC bought a new position in shares of Paychex in the fourth quarter worth about $35,000. Finally, Quest Partners LLC purchased a new stake in shares of Paychex during the third quarter worth about $36,000. 83.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAYX has been the subject of several recent analyst reports. UBS Group upped their price target on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada restated a "sector perform" rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays lifted their price target on shares of Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $133.23.

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Paychex Trading Down 0.6 %

Shares of NASDAQ:PAYX traded down $0.92 during trading on Tuesday, reaching $143.91. The company's stock had a trading volume of 958,552 shares, compared to its average volume of 1,782,556. The stock has a market capitalization of $51.82 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. 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's 50 day simple moving average is $147.86 and its two-hundred day simple moving average is $142.89. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, February 7th. Paychex's payout ratio is 82.53%.

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.