Paychex, Inc. (NASDAQ:PAYX) Holdings Raised by Andra AP fonden

Andra AP fonden lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,300 shares of the business services provider's stock after acquiring an additional 13,500 shares during the period. Andra AP fonden's holdings in Paychex were worth $14,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYX. Royal London Asset Management Ltd. boosted its position in Paychex by 2.3% in the third quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider's stock worth $25,182,000 after purchasing an additional 4,157 shares during the last quarter. Miracle Mile Advisors LLC increased its position in shares of Paychex by 91.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider's stock valued at $1,515,000 after acquiring an additional 5,153 shares during the period. Meridian Wealth Management LLC bought a new position in Paychex in the 3rd quarter worth $3,351,000. MML Investors Services LLC raised its stake in Paychex by 6.5% during the third quarter. MML Investors Services LLC now owns 329,080 shares of the business services provider's stock valued at $44,159,000 after buying an additional 20,064 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Paychex by 151.0% during the third quarter. Assetmark Inc. now owns 9,761 shares of the business services provider's stock valued at $1,310,000 after purchasing an additional 5,872 shares in the last quarter. Institutional investors own 83.47% of the company's stock.

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Analyst Ratings Changes

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

Paychex Price Performance

Paychex stock traded down $1.49 during mid-day trading on Wednesday, reaching $145.01. The company had a trading volume of 2,779,724 shares, compared to its average volume of 1,785,849. The company has a market capitalization of $52.21 billion, a P/E ratio of 30.53, 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 current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $158.37. The stock's 50-day simple moving average is $146.74 and its 200-day simple moving average is $141.95.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

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

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.