RW Investment Management LLC Sells 2,553 Shares of Paychex, Inc. (NASDAQ:PAYX)

RW Investment Management LLC decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 46.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,924 shares of the business services provider's stock after selling 2,553 shares during the period. RW Investment Management LLC's holdings in Paychex were worth $410,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Paychex by 38,655.2% during the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider's stock worth $107,340,000 after buying an additional 797,843 shares in the last quarter. Barclays PLC increased its position in Paychex by 46.2% during the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider's stock worth $234,627,000 after acquiring an additional 552,540 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Paychex by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider's stock worth $1,278,142,000 after purchasing an additional 345,682 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Paychex by 2,404.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider's stock worth $46,391,000 after purchasing an additional 317,634 shares in the last quarter. Finally, Unigestion Holding SA grew its position in shares of Paychex by 2,139.2% during the 3rd quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider's stock worth $39,667,000 after purchasing an additional 282,487 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company's stock.

Wall Street Analyst Weigh In

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

Paychex Price Performance

Paychex stock traded down $1.75 during midday trading on Friday, reaching $148.51. The company's stock had a trading volume of 1,674,278 shares, compared to its average volume of 1,725,658. The business has a 50-day moving average price of $143.96 and a 200-day moving average price of $139.43. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72. 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 stock has a market cap of $53.47 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00.

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

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.64%. Paychex's dividend payout ratio is presently 82.53%.

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.