Envestnet Portfolio Solutions Inc. Has $16.85 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,142 shares of the business services provider's stock after selling 2,855 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Paychex were worth $16,846,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PAYX. Oppenheimer Asset Management Inc. increased its holdings in Paychex by 13.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,435 shares of the business services provider's stock worth $998,000 after buying an additional 867 shares during the last quarter. Natixis Advisors LLC boosted its position in Paychex by 1.4% during the third quarter. Natixis Advisors LLC now owns 99,970 shares of the business services provider's stock worth $13,415,000 after purchasing an additional 1,424 shares during the period. Veery Capital LLC bought a new stake in Paychex during the third quarter worth approximately $207,000. Atlanta Consulting Group Advisors LLC bought a new stake in Paychex during the third quarter worth approximately $465,000. Finally, Adero Partners LLC boosted its position in Paychex by 3.7% during the third quarter. Adero Partners LLC now owns 2,316 shares of the business services provider's stock worth $311,000 after purchasing an additional 82 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of NASDAQ PAYX traded down $2.30 during trading hours on Thursday, reaching $145.23. The stock had a trading volume of 1,463,728 shares, compared to its average volume of 1,771,991. The business's fifty day moving average is $147.60 and its two-hundred day moving average is $142.53. 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 company has a market cap of $52.29 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37.

Remove Ads

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

Paychex Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on PAYX. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Barclays upped their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, December 23rd. Finally, UBS Group upped their target price on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.