Jones Financial Companies Lllp Has $973,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Jones Financial Companies Lllp boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 120.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,936 shares of the business services provider's stock after purchasing an additional 3,783 shares during the quarter. Jones Financial Companies Lllp's holdings in Paychex were worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PAYX. Modera Wealth Management LLC raised its stake in Paychex by 6.1% during the 4th quarter. Modera Wealth Management LLC now owns 6,603 shares of the business services provider's stock valued at $926,000 after acquiring an additional 379 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Paychex by 331.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,187 shares of the business services provider's stock worth $166,000 after acquiring an additional 912 shares during the last quarter. Norden Group LLC lifted its position in shares of Paychex by 38.8% in the 4th quarter. Norden Group LLC now owns 3,089 shares of the business services provider's stock valued at $433,000 after acquiring an additional 864 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Paychex by 53.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,919 shares of the business services provider's stock worth $269,000 after purchasing an additional 668 shares in the last quarter. Finally, Nixon Peabody Trust Co. raised its stake in Paychex by 8.9% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,096 shares of the business services provider's stock valued at $294,000 after purchasing an additional 171 shares during the period. 83.47% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research analysts recently weighed in on PAYX shares. Royal Bank of Canada reissued a "sector perform" rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. Barclays boosted their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, December 23rd. UBS Group lifted their target price on shares of Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their target price on Paychex from $133.00 to $139.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, Paychex currently has an average rating of "Hold" and an average target price of $133.23.

Paychex Stock Performance

Shares of PAYX stock traded down $1.48 during trading hours on Wednesday, reaching $145.02. 1,860,826 shares of the company's stock were exchanged, compared to its average volume of 1,782,836. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $158.37. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $52.22 billion, a P/E ratio of 30.51, a P/E/G ratio of 4.10 and a beta of 0.98. The business has a fifty day moving average price of $146.74 and a 200-day moving average price of $141.95.

Paychex (NASDAQ:PAYX - Get Free Report) last released its earnings results 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. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. Analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

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

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.