Bessemer Group Inc. Has $6.68 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Bessemer Group Inc. lifted its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,638 shares of the business services provider's stock after acquiring an additional 2,678 shares during the period. Bessemer Group Inc.'s holdings in Paychex were worth $6,680,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Paychex by 220.7% during the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex during the fourth quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in Paychex in the 4th quarter worth about $28,000. Millstone Evans Group LLC acquired a new stake in Paychex during the 4th quarter worth about $33,000. Finally, Avion Wealth grew its stake in Paychex by 469.8% during the 4th 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. Institutional investors and hedge funds own 83.47% of the company's stock.

Wall Street Analyst Weigh In

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

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Paychex Stock Performance

PAYX traded down $1.45 on Tuesday, hitting $147.62. The company had a trading volume of 1,153,684 shares, compared to its average volume of 1,916,708. Paychex, Inc. has a 1-year low of $115.40 and a 1-year high of $158.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company's fifty day moving average price is $148.08 and its 200 day moving average price is $144.49. The stock has a market cap of $53.17 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.38 EPS. Equities analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

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.