Chevy Chase Trust Holdings LLC Sells 4,580 Shares of Paychex, Inc. (NASDAQ:PAYX)

Chevy Chase Trust Holdings LLC cut its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 227,159 shares of the business services provider's stock after selling 4,580 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Paychex worth $31,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider's stock worth $107,340,000 after purchasing an additional 797,843 shares in the last quarter. Barclays PLC grew its position in Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider's stock worth $234,627,000 after buying an additional 552,540 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Paychex by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider's stock valued at $1,278,142,000 after buying an additional 345,682 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Paychex by 2,404.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider's stock valued at $46,391,000 after acquiring an additional 317,634 shares during the last quarter. Finally, Unigestion Holding SA boosted its stake in shares of Paychex by 2,139.2% during the 3rd quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider's stock worth $39,667,000 after acquiring an additional 282,487 shares in the last quarter. Institutional investors own 83.47% of the company's stock.

Paychex Stock Up 0.8 %

Shares of NASDAQ PAYX traded up $1.15 during trading hours on Tuesday, hitting $148.40. The stock had a trading volume of 1,457,356 shares, compared to its average volume of 1,719,067. The firm's 50-day moving average price is $143.49 and its two-hundred day moving average price is $139.13. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72. The company has a market capitalization of $53.43 billion, a P/E ratio of 31.24, a P/E/G ratio of 4.10 and a beta of 1.00. 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 posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

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

Wall Street Analyst Weigh In

PAYX has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 19th. Barclays lifted their price target on 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 reissued a "sector perform" rating and issued 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 assigned a hold rating to the company's stock. According to MarketBeat, Paychex presently 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.