Callan Family Office LLC Invests $992,000 in Paychex, Inc. (NASDAQ:PAYX)

Callan Family Office LLC acquired a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,075 shares of the business services provider's stock, valued at approximately $992,000.

Several other large investors also recently added to or reduced their stakes in PAYX. Union Bancaire Privee UBP SA purchased a new stake in Paychex in the 4th quarter worth approximately $28,000. Avion Wealth increased its position in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after purchasing an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in Paychex in the fourth quarter worth approximately $35,000. Asset Planning Inc bought a new position in shares of Paychex during the 4th quarter valued at $36,000. Finally, Quest Partners LLC acquired a new stake in shares of Paychex in the 3rd quarter valued at $36,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Price Performance

Shares of PAYX traded down $1.49 during trading hours on Wednesday, hitting $145.01. The stock had a trading volume of 2,779,724 shares, compared to its average volume of 1,785,849. 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 stock has a market capitalization of $52.21 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The company's fifty day moving average is $146.74 and its two-hundred day moving average is $141.95.

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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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. On average, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.70%. Paychex's dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. UBS Group lifted their price target on shares of Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Barclays raised their target price on shares of Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased their target price on Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a research note on Tuesday, November 19th. Two equities 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, Paychex has an average rating of "Hold" and an average price target of $133.23.

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.