Donaldson Capital Management LLC boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 422,634 shares of the business services provider's stock after purchasing an additional 5,358 shares during the quarter. Paychex comprises 2.3% of Donaldson Capital Management LLC's portfolio, making the stock its 17th largest holding. Donaldson Capital Management LLC owned approximately 0.12% of Paychex worth $59,262,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Global Investments bought a new stake in Paychex during the 3rd quarter valued at approximately $218,000. Leavell Investment Management Inc. boosted its position in shares of Paychex by 47.5% in the third quarter. Leavell Investment Management Inc. now owns 4,648 shares of the business services provider's stock valued at $624,000 after acquiring an additional 1,497 shares during the period. Assetmark Inc. grew its stake in shares of Paychex by 151.0% in the third quarter. Assetmark Inc. now owns 9,761 shares of the business services provider's stock worth $1,310,000 after acquiring an additional 5,872 shares during the last quarter. Atria Investments Inc grew its stake in shares of Paychex by 2.9% in the third quarter. Atria Investments Inc now owns 55,502 shares of the business services provider's stock worth $7,448,000 after acquiring an additional 1,567 shares during the last quarter. Finally, Sigma Planning Corp increased its position in Paychex by 3.1% during the third quarter. Sigma Planning Corp now owns 12,272 shares of the business services provider's stock worth $1,647,000 after acquiring an additional 372 shares during the period. Institutional investors and hedge funds own 83.47% of the company's stock.
Paychex Price Performance
NASDAQ:PAYX traded down $1.60 during trading hours on Wednesday, reaching $144.90. The company had a trading volume of 1,573,985 shares, compared to its average volume of 1,781,921. 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 50-day moving average of $146.74 and a two-hundred day moving average of $141.95. Paychex, Inc. has a one year low of $114.72 and a one year high of $158.37. The firm has a market capitalization of $52.17 billion, a PE ratio of 30.58, a PEG ratio of 4.10 and a beta of 0.98.
Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share 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 business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.
Paychex Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.71%. Paychex's payout ratio is 82.53%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on PAYX shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on shares of Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a research note on Tuesday, November 19th. Barclays boosted their price target on Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, December 23rd. Finally, UBS Group raised their price objective on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $133.23.
Read Our Latest Analysis on Paychex
Paychex Profile
(
Free Report)
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.
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