Rhumbline Advisers Has $90.43 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Rhumbline Advisers cut its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 644,877 shares of the business services provider's stock after selling 9,223 shares during the quarter. Rhumbline Advisers owned about 0.18% of Paychex worth $90,425,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mutual Advisors LLC grew its position in shares of Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock valued at $423,000 after acquiring an additional 73 shares during the period. Fortitude Family Office LLC grew its holdings in Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock worth $34,000 after purchasing an additional 74 shares during the period. Kanawha Capital Management LLC grew its holdings in Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider's stock worth $575,000 after purchasing an additional 75 shares during the period. Weaver Capital Management LLC increased its position in Paychex by 3.7% during the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock worth $297,000 after buying an additional 75 shares during the last quarter. Finally, Adero Partners LLC raised its stake in Paychex by 3.2% in the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock valued at $335,000 after buying an additional 75 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

NASDAQ:PAYX traded up $1.64 during trading hours on Wednesday, reaching $150.04. 1,091,781 shares of the company were exchanged, compared to its average volume of 1,738,720. The business has a 50 day moving average of $143.61 and a 200 day moving average of $139.28. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $151.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $54.02 billion, a P/E ratio of 31.59, a P/E/G ratio of 4.02 and a beta of 1.00.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results 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 net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $1.08 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.61%. Paychex's dividend payout ratio (DPR) is currently 82.53%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PAYX shares. JPMorgan Chase & Co. lifted their target price on Paychex from $133.00 to $139.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, Paychex presently has an average rating of "Hold" and a consensus target price of $132.23.

Paychex 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.