Franklin Resources Inc. Has $113.15 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Franklin Resources Inc. lessened its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 19.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 806,956 shares of the business services provider's stock after selling 190,974 shares during the period. Franklin Resources Inc. owned approximately 0.22% of Paychex worth $113,151,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PAYX. Royal London Asset Management Ltd. raised its holdings in shares of Paychex by 2.3% in the third quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider's stock valued at $25,182,000 after buying an additional 4,157 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Paychex by 91.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider's stock worth $1,515,000 after acquiring an additional 5,153 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Paychex by 6.5% during the third quarter. MML Investors Services LLC now owns 329,080 shares of the business services provider's stock worth $44,159,000 after purchasing an additional 20,064 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Paychex by 120.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider's stock valued at $973,000 after purchasing an additional 3,783 shares during the last quarter. Finally, PFW Advisors LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $2,405,000. 83.47% of the stock is owned by institutional investors and hedge funds.

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Paychex Stock Performance

Paychex stock traded down $10.21 during midday trading on Friday, reaching $143.32. 3,049,779 shares of the company's stock were exchanged, compared to its average volume of 1,885,809. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock's 50-day simple moving average is $148.88 and its 200 day simple moving average is $143.91. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 4.10 and a beta of 0.88. Paychex, Inc. has a 52 week low of $115.40 and a 52 week high of $158.37.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid 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 dividend payout ratio (DPR) is presently 81.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Citigroup increased their price target on Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Stifel Nicolaus upped their price target on Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a research note on Thursday, March 27th. Cfra Research upgraded shares of Paychex to a "hold" rating in a report on Thursday, March 27th. Finally, Morgan Stanley boosted their price target on shares of Paychex from $137.00 to $142.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $141.00.

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.