Bryn Mawr Capital Management LLC Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Bryn Mawr Capital Management LLC bought a new stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,000 shares of the business services provider's stock, valued at approximately $982,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYX. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex in the 4th quarter valued at $28,000. Fortitude Family Office LLC lifted its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock valued at $34,000 after acquiring an additional 74 shares during the period. Avion Wealth grew its holdings in 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 acquiring an additional 202 shares during the period. MilWealth Group LLC acquired a new stake in Paychex during the fourth quarter valued at $35,000. Finally, Quest Partners LLC purchased a new position in Paychex in the third quarter valued at $36,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. upped their price target on Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company's stock. According to MarketBeat.com, Paychex has an average rating of "Hold" and an average target price of $132.23.

Paychex Stock Down 1.2 %

Paychex stock traded down $1.75 during mid-day trading on Friday, reaching $148.51. 1,674,278 shares of the company's stock were exchanged, compared to its average volume of 1,725,658. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.72. The company has a market cap of $53.47 billion, a P/E ratio of 31.27, a P/E/G ratio of 4.10 and a beta of 1.00. The company has a fifty day moving average of $143.96 and a 200-day moving average of $139.43.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.31 billion. During the same period last year, the firm earned $1.08 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, February 7th. Paychex's dividend payout ratio is presently 82.53%.

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.