Invesco Ltd. Has $575.55 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Invesco Ltd. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,104,626 shares of the business services provider's stock after purchasing an additional 208,130 shares during the period. Invesco Ltd. owned about 1.14% of Paychex worth $575,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Paychex during the fourth quarter worth approximately $184,216,000. Amundi boosted its position in Paychex by 77.9% during the fourth quarter. Amundi now owns 1,534,145 shares of the business services provider's stock worth $215,164,000 after acquiring an additional 672,010 shares during the last quarter. Schroder Investment Management Group boosted its position in Paychex by 86.5% during the fourth quarter. Schroder Investment Management Group now owns 1,355,713 shares of the business services provider's stock worth $189,746,000 after acquiring an additional 628,912 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Paychex by 30,382.8% during the 4th quarter. Proficio Capital Partners LLC now owns 568,809 shares of the business services provider's stock valued at $79,758,000 after acquiring an additional 566,943 shares in the last quarter. Finally, Norges Bank acquired a new stake in Paychex in the 4th quarter valued at about $78,215,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley boosted their target price 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. Citigroup boosted their target price on shares of Paychex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Stifel Nicolaus lifted their target price on Paychex from $141.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, March 27th. Barclays raised their price objective on shares of Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Monday, March 31st. Finally, Cfra Research upgraded Paychex to a "hold" rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $141.00.

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Paychex Price Performance

Shares of NASDAQ PAYX traded up $2.14 during midday trading on Monday, reaching $148.89. The company's stock had a trading volume of 324,514 shares, compared to its average volume of 1,915,234. The company has a 50 day moving average price of $148.12 and a 200 day moving average price of $144.37. The company has a market cap of $53.63 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. 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, Inc. has a one year low of $115.40 and a one year high of $158.37.

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

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.