Stevens Capital Management LP Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Stevens Capital Management LP acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,514 shares of the business services provider's stock, valued at approximately $493,000.

Several other large investors have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new stake in shares of Paychex during the 4th quarter valued at $28,000. Millstone Evans Group LLC bought a new stake in Paychex during the fourth quarter worth about $33,000. Avion Wealth grew its stake in Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after buying an additional 202 shares in the last quarter. MilWealth Group LLC bought a new position in Paychex in the 4th quarter valued at about $35,000. Finally, Asset Planning Inc acquired a new position in shares of Paychex in the 4th quarter valued at approximately $36,000. Institutional investors own 83.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PAYX. Royal Bank of Canada reiterated a "sector perform" rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. UBS Group lifted their price target on Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $133.23.

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Paychex Trading Down 0.5 %

Shares of Paychex stock traded down $0.70 on Tuesday, hitting $144.13. The stock had a trading volume of 3,387,206 shares, compared to its average volume of 1,782,113. The stock has a 50 day moving average of $147.86 and a 200 day moving average of $142.89. The firm has a market capitalization of $51.90 billion, a P/E ratio of 30.34, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, February 7th. Paychex's payout ratio is presently 82.53%.

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.