17,464 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by Tallon Kerry Patrick

Tallon Kerry Patrick bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,464 shares of the business services provider's stock, valued at approximately $2,419,000. Paychex comprises about 2.3% of Tallon Kerry Patrick's holdings, making the stock its 11th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of PAYX. Fortitude Family Office LLC grew its position in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock worth $34,000 after buying an additional 74 shares during the period. Quest Partners LLC acquired a new stake in Paychex in the third quarter worth $36,000. Quarry LP increased its stake in Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider's stock valued at $35,000 after purchasing an additional 177 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider's stock valued at $41,000 after purchasing an additional 274 shares during the period. Finally, HWG Holdings LP bought a new position in shares of Paychex during the 2nd quarter worth about $63,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PAYX. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. 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. TD Cowen raised their price objective on Paychex from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their target price on shares of Paychex from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company's stock. According to data from MarketBeat, Paychex has an average rating of "Hold" and an average target price of $132.23.

Paychex Stock Performance

Shares of PAYX traded down $0.55 during trading hours on Friday, hitting $146.29. The company's stock had a trading volume of 2,115,501 shares, compared to its average volume of 2,100,345. The company has a market cap of $52.67 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 3.80 and a beta of 1.00. 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 business has a 50 day simple moving average of $142.32 and a two-hundred day simple moving average of $134.98. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 EPS. On average, equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, February 7th. Paychex's dividend 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.