Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Decreased by Callahan Advisors LLC

Callahan Advisors LLC reduced its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,794 shares of the business services provider's stock after selling 2,084 shares during the period. Callahan Advisors LLC's holdings in Paychex were worth $11,609,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Monument Capital Management boosted its holdings in shares of Paychex by 4.4% in the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock valued at $240,000 after buying an additional 72 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock valued at $423,000 after buying an additional 73 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock valued at $34,000 after buying an additional 74 shares during the period. Kanawha Capital Management LLC boosted its holdings in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider's stock valued at $575,000 after buying an additional 75 shares during the period. Finally, Weaver Capital Management LLC boosted its holdings in shares of Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock valued at $297,000 after buying an additional 75 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PAYX shares. JPMorgan Chase & Co. lifted their price target on shares of Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a report on Tuesday, November 19th. 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, Paychex presently has an average rating of "Hold" and an average target price of $132.23.

Paychex Price Performance

Shares of PAYX stock traded down $1.75 during midday trading on Friday, reaching $148.51. 1,674,278 shares of the company were exchanged, compared to its average volume of 1,725,658. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $151.72. The company has a market cap of $53.47 billion, a P/E ratio of 31.27, a PEG ratio of 4.10 and a beta of 1.00. The company's 50 day moving average price is $144.11 and its two-hundred day moving average price is $139.60. 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 (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $1.08 EPS. Paychex's revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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

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.