Entropy Technologies LP Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Entropy Technologies LP purchased a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,596 shares of the business services provider's stock, valued at approximately $925,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D Orazio & Associates Inc. raised its holdings in Paychex by 3.3% during the 4th quarter. D Orazio & Associates Inc. now owns 2,654 shares of the business services provider's stock worth $372,000 after buying an additional 86 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Paychex by 17.9% in the 4th quarter. Apollon Wealth Management LLC now owns 34,462 shares of the business services provider's stock valued at $4,832,000 after buying an additional 5,228 shares in the last quarter. Westbourne Investment Advisors Inc. grew its stake in shares of Paychex by 3.3% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 47,316 shares of the business services provider's stock valued at $6,635,000 after buying an additional 1,515 shares in the last quarter. TFG Advisers LLC boosted its position in Paychex by 4.6% during the fourth quarter. TFG Advisers LLC now owns 4,158 shares of the business services provider's stock worth $583,000 after purchasing an additional 181 shares during the period. Finally, MWA Asset Management boosted its position in Paychex by 1.9% during the fourth quarter. MWA Asset Management now owns 4,007 shares of the business services provider's stock worth $562,000 after purchasing an additional 76 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Down 0.9 %

Shares of NASDAQ PAYX traded down $1.38 during mid-day trading on Friday, reaching $147.25. 1,052,382 shares of the company's stock were exchanged, compared to its average volume of 1,753,886. The business has a fifty day simple moving average of $143.27 and a 200 day simple moving average of $138.69. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.72. The firm has a market capitalization of $53.02 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 4.10 and a beta of 1.00. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. Paychex's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. As a group, equities analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

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 paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.66%. Paychex's dividend payout ratio is 82.53%.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of research analyst reports. Barclays upped their price target on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, December 23rd. JPMorgan Chase & Co. increased their target price on Paychex from $133.00 to $139.00 and gave the stock an "underweight" rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.