Chesapeake Capital Corp IL Has $370,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Chesapeake Capital Corp IL cut its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 56.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,641 shares of the business services provider's stock after selling 3,382 shares during the quarter. Chesapeake Capital Corp IL's holdings in Paychex were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Monument Capital Management raised its position in Paychex by 4.4% during the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock valued at $240,000 after purchasing an additional 72 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock worth $423,000 after buying an additional 73 shares in the last quarter. Emerald Advisors LLC lifted its position in shares of Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock worth $423,000 after buying an additional 74 shares during the last quarter. Weaver Capital Management LLC boosted its stake in Paychex by 3.7% in the fourth 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 in the last quarter. Finally, Adero Partners LLC grew its position in Paychex by 3.2% in the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock valued at $335,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 83.47% of the company's stock.

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Paychex Trading Down 1.5 %

Shares of NASDAQ PAYX traded down $2.21 during trading on Friday, reaching $143.02. The company had a trading volume of 4,764,511 shares, compared to its average volume of 1,781,337. The company's fifty day moving average price is $147.77 and its 200-day moving average price is $142.71. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market cap of $51.50 billion, a P/E ratio of 30.11, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings results 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. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $1.08 EPS. The company's revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current 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 $0.98 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.74%. Paychex's payout ratio is 82.53%.

Analysts Set New Price Targets

PAYX has been the subject of a number of research reports. UBS Group increased their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, December 23rd. 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, Paychex has an average rating of "Hold" and a consensus price target of $133.23.

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.