LBP AM SA trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 80.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,738 shares of the business services provider's stock after selling 78,652 shares during the quarter. LBP AM SA's holdings in Paychex were worth $2,627,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in PAYX. Union Bancaire Privee UBP SA bought a new position in Paychex in the 4th quarter worth approximately $28,000. Avion Wealth boosted its stake in shares of Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after acquiring an additional 202 shares in the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex during the 4th quarter worth $35,000. Quest Partners LLC bought a new stake in shares of Paychex during the 3rd quarter worth $36,000. Finally, Asset Planning Inc bought a new stake in shares of Paychex during the 4th quarter worth $36,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.
Paychex Stock Performance
PAYX traded down $2.30 on Thursday, hitting $145.23. 1,463,728 shares of the stock traded hands, compared to its average volume of 1,771,991. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $52.29 billion, a PE ratio of 30.57, a P/E/G ratio of 4.10 and a beta of 0.98. The business has a fifty day moving average price of $147.60 and a two-hundred day moving average price of $142.53.
Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. On average, research analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.
Paychex Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, February 7th. Paychex's payout ratio is currently 82.53%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PAYX. Royal Bank of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, December 23rd. Finally, UBS Group raised their target price on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $133.23.
Check Out Our Latest Report on Paychex
Paychex Company Profile
(
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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