Rathbones Group PLC Has $20.98 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Rathbones Group PLC raised its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,587 shares of the business services provider's stock after acquiring an additional 5,814 shares during the period. Rathbones Group PLC's holdings in Paychex were worth $20,975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC bought a new position in Paychex in the third quarter valued at approximately $5,673,000. EP Wealth Advisors LLC raised its holdings in shares of Paychex by 9.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 36,364 shares of the business services provider's stock worth $4,880,000 after buying an additional 3,282 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Paychex by 51.9% during the 3rd quarter. National Bank of Canada FI now owns 258,739 shares of the business services provider's stock worth $34,720,000 after buying an additional 88,394 shares during the last quarter. Dunhill Financial LLC boosted its stake in Paychex by 805.9% in the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider's stock valued at $41,000 after buying an additional 274 shares in the last quarter. Finally, MML Investors Services LLC grew its position in Paychex by 6.5% in 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 acquiring an additional 20,064 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

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Paychex Trading Up 1.6 %

NASDAQ:PAYX traded up $2.34 during trading hours on Friday, hitting $146.75. 1,918,173 shares of the company were exchanged, compared to its average volume of 1,921,432. The stock has a market capitalization of $52.86 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. Paychex, Inc. has a one year low of $115.40 and a one year high of $158.37. The company has a fifty day simple moving average of $148.12 and a 200 day simple moving average of $144.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. The company had revenue of $1.51 billion during 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 firm's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. Sell-side analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PAYX. UBS Group increased their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Royal Bank of Canada restated a "sector perform" rating and issued a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Citigroup boosted their target price on shares of Paychex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Stifel Nicolaus raised their price objective on Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, March 27th. Finally, Morgan Stanley boosted their price objective on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat, Paychex presently has an average rating of "Hold" and a consensus price target of $141.00.

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.