MassMutual Private Wealth & Trust FSB Sells 1,788 Shares of Paychex, Inc. (NASDAQ:PAYX)

MassMutual Private Wealth & Trust FSB lessened its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,837 shares of the business services provider's stock after selling 1,788 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Paychex were worth $8,671,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC raised its position in Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider's stock worth $186,000 after acquiring an additional 74 shares during the period. Fortitude Family Office LLC increased its stake in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock worth $34,000 after purchasing an additional 74 shares during the last quarter. Kanawha Capital Management LLC raised its holdings in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider's stock worth $575,000 after purchasing an additional 75 shares during the period. Baron Wealth Management LLC lifted its stake in Paychex by 2.2% in the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider's stock valued at $487,000 after purchasing an additional 79 shares during the last quarter. Finally, Daymark Wealth Partners LLC grew its holdings in Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider's stock valued at $1,167,000 after purchasing an additional 82 shares during the period. 83.47% of the stock is owned by institutional investors.

Paychex Stock Down 0.4 %

PAYX traded down $0.55 during trading on Monday, hitting $146.29. 2,115,501 shares of the company's stock traded hands, compared to its average volume of 2,045,988. The stock has a market capitalization of $52.67 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 3.80 and a beta of 1.00. The company's 50 day simple moving average is $142.27 and its two-hundred day simple moving average is $135.43. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. 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 (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $1.08 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.68%. Paychex's payout ratio is 82.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYX. Barclays boosted their price target 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 increased their target price on Paychex from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a research report on Tuesday, November 19th. Citigroup increased their price objective on Paychex from $125.00 to $145.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Finally, TD Cowen raised their target price on Paychex from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $132.23.

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.