Neuberger Berman Group LLC Has $78.41 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

Neuberger Berman Group LLC grew its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 559,221 shares of the business services provider's stock after acquiring an additional 145,567 shares during the quarter. Neuberger Berman Group LLC owned about 0.16% of Paychex worth $78,414,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. F M Investments LLC bought a new position in shares of Paychex in the fourth quarter valued at approximately $306,000. Bessemer Group Inc. boosted its position in shares of Paychex by 6.0% in the 4th quarter. Bessemer Group Inc. now owns 47,638 shares of the business services provider's stock valued at $6,680,000 after purchasing an additional 2,678 shares during the period. Azimuth Capital Investment Management LLC increased its stake in Paychex by 1.6% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 53,628 shares of the business services provider's stock worth $7,520,000 after purchasing an additional 850 shares in the last quarter. Faithward Advisors LLC raised its holdings in Paychex by 4.0% during the 4th quarter. Faithward Advisors LLC now owns 3,851 shares of the business services provider's stock worth $540,000 after buying an additional 148 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Paychex by 120.4% during the fourth quarter. APG Asset Management N.V. now owns 341,153 shares of the business services provider's stock valued at $46,196,000 after buying an additional 186,390 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

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Paychex Stock Down 0.8 %

PAYX stock traded down $1.20 during trading hours on Tuesday, hitting $147.87. The company's stock had a trading volume of 391,304 shares, compared to its average volume of 1,914,644. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12 month low of $115.40 and a 12 month high of $158.37. The stock has a 50 day moving average price of $148.08 and a two-hundred day moving average price of $144.49. The company has a market capitalization of $53.26 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88.

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

Analyst Ratings Changes

Several research firms have recently weighed in on PAYX. UBS Group lifted their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Barclays lifted 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. Stifel Nicolaus increased their target price on Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, March 27th. 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. Finally, Cfra Research upgraded Paychex to a "hold" rating in a research report on Thursday, March 27th. Two 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, the stock presently has an average rating of "Hold" and a consensus target price of $141.00.

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.