Bryn Mawr Capital Management LLC Takes $357,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Bryn Mawr Capital Management LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,546 shares of the business services provider's stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. DMKC Advisory Services LLC purchased a new position in Paychex during the 4th quarter valued at about $473,000. Lake Street Advisors Group LLC lifted its holdings in Paychex by 6.9% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,943 shares of the business services provider's stock worth $413,000 after buying an additional 190 shares during the period. FourThought Financial Partners LLC bought a new stake in Paychex during the 4th quarter valued at $514,000. Commonwealth Retirement Investments LLC boosted its position in Paychex by 1.3% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 11,965 shares of the business services provider's stock valued at $1,678,000 after acquiring an additional 154 shares in the last quarter. Finally, CWS Financial Advisors LLC raised its position in shares of Paychex by 31.4% in the 4th quarter. CWS Financial Advisors LLC now owns 3,274 shares of the business services provider's stock worth $459,000 after acquiring an additional 783 shares in the last quarter. Institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

Shares of PAYX stock traded up $1.70 during trading hours on Monday, hitting $153.37. The company's stock had a trading volume of 1,783,426 shares, compared to its average volume of 1,756,252. 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 company has a 50 day moving average of $145.23 and a 200 day moving average of $140.71. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $154.48. The stock has a market cap of $55.22 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. On average, sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, February 7th. Paychex's dividend payout ratio (DPR) is 82.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Paychex from $133.00 to $139.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 19th. Barclays raised 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $132.23.

Paychex 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.