Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 886.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,416 shares of the business services provider's stock after purchasing an additional 13,854 shares during the quarter. Soltis Investment Advisors LLC's holdings in Paychex were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex during the 4th quarter worth $28,000. Fortitude Family Office LLC boosted its holdings in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock valued at $34,000 after acquiring an additional 74 shares during the period. MilWealth Group LLC purchased a new position in Paychex during the 4th quarter valued at about $35,000. Quest Partners LLC purchased a new position in Paychex during the 3rd quarter valued at about $36,000. Finally, Dunhill Financial LLC boosted its holdings in Paychex by 805.9% during the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider's stock valued at $41,000 after acquiring an additional 274 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYX has been the subject of a number of research analyst reports. Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, December 23rd. JPMorgan Chase & Co. raised their target price on Paychex from $133.00 to $139.00 and gave the company an "underweight" rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada restated 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 given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $132.23.

Paychex Price Performance

Shares of NASDAQ PAYX traded up $1.68 during trading on Thursday, reaching $148.63. The company had a trading volume of 1,252,228 shares, compared to its average volume of 1,778,077. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.72. The stock has a market capitalization of $53.52 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The stock has a 50-day moving average price of $143.15 and a two-hundred day moving average price of $138.62. 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 results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. As a group, sell-side analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.64%. Paychex's payout ratio is currently 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.