Northwest & Ethical Investments L.P. Has $4.08 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Northwest & Ethical Investments L.P. lowered its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 47.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,076 shares of the business services provider's stock after selling 26,210 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Paychex were worth $4,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex in the fourth quarter worth approximately $28,000. Avion Wealth boosted its stake in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after purchasing an additional 202 shares during the period. MilWealth Group LLC acquired a new position in Paychex in the 4th quarter worth approximately $35,000. Asset Planning Inc purchased a new position in Paychex during the 4th quarter worth approximately $36,000. Finally, Quest Partners LLC acquired a new stake in Paychex during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Stock Down 0.5 %

Shares of Paychex stock traded down $0.70 during midday trading on Tuesday, reaching $144.13. 3,387,206 shares of the company's stock traded hands, compared to its average volume of 1,782,556. 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 52 week low of $114.72 and a 52 week high of $158.37. The company's 50 day simple moving average is $147.86 and its 200 day simple moving average is $142.89. The company has a market cap of $51.90 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98.

Remove Ads

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, February 7th. Paychex's payout ratio is 82.53%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PAYX shares. 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. UBS Group raised their price objective on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $133.23.

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.