1,790 Shares in Paychex, Inc. (NASDAQ:PAYX) Acquired by Greykasell Wealth Strategies Inc.

Greykasell Wealth Strategies Inc. acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,790 shares of the business services provider's stock, valued at approximately $251,000.

Several other hedge funds have also recently modified their holdings of PAYX. Oppenheimer Asset Management Inc. boosted its position 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 purchasing an additional 867 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Paychex by 4.7% during the 3rd quarter. Metis Global Partners LLC now owns 16,811 shares of the business services provider's stock worth $2,256,000 after purchasing an additional 761 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Paychex by 11.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,995 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 810 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Paychex by 18.4% in the 3rd quarter. CIBC Asset Management Inc now owns 130,953 shares of the business services provider's stock worth $17,573,000 after buying an additional 20,361 shares during the last quarter. Finally, Empirical Finance LLC grew its position in Paychex by 2.2% during the third quarter. Empirical Finance LLC now owns 11,082 shares of the business services provider's stock valued at $1,487,000 after buying an additional 240 shares during the period. Institutional investors own 83.47% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

PAYX has been the topic of several research reports. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, December 23rd. UBS Group raised their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $133.23.

Paychex Price Performance

PAYX stock traded down $2.30 during mid-day trading on Thursday, reaching $145.23. 1,463,728 shares of the company traded hands, compared to its average volume of 1,771,992. The company has a fifty day moving average price of $147.60 and a 200-day moving average price of $142.53. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $158.37. The company has a market capitalization of $52.29 billion, a P/E ratio of 30.57, a P/E/G ratio of 4.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating 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 company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. Paychex's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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

About Paychex

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.