Natixis Advisors LLC increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,122 shares of the business services provider's stock after purchasing an additional 8,152 shares during the period. Natixis Advisors LLC's holdings in Paychex were worth $15,161,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex in the fourth quarter valued at approximately $28,000. Avion Wealth raised its stake in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider's stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. MilWealth Group LLC purchased a new position in Paychex in the 4th quarter valued at $35,000. Quest Partners LLC acquired a new stake in Paychex during the 3rd quarter worth $36,000. Finally, Asset Planning Inc purchased a new stake in shares of Paychex during the fourth quarter worth $36,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.
Paychex Trading Down 1.5 %
Shares of Paychex stock traded down $2.21 during trading hours on Friday, hitting $143.02. The company's stock had a trading volume of 4,764,511 shares, compared to its average volume of 1,779,917. The stock has a market cap of $51.50 billion, a price-to-earnings ratio of 30.11, 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 quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. The firm has a fifty day moving average of $147.77 and a 200-day moving average of $142.63.
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 for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. The business 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 revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. Research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.
Paychex Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, February 7th. Paychex's payout ratio is 82.53%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays raised their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, December 23rd. Finally, UBS Group boosted their target price on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $133.23.
Check Out Our Latest Analysis on PAYX
About Paychex
(
Free Report)
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.
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