TD Private Client Wealth LLC Grows Stock Position in Paychex, Inc. (NASDAQ:PAYX)

TD Private Client Wealth LLC increased its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,884 shares of the business services provider's stock after purchasing an additional 2,147 shares during the quarter. TD Private Client Wealth LLC's holdings in Paychex were worth $6,013,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in Paychex by 3.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,588 shares of the business services provider's stock worth $643,000 after purchasing an additional 173 shares during the last quarter. HUB Investment Partners LLC increased its position in shares of Paychex by 5.0% during the fourth quarter. HUB Investment Partners LLC now owns 6,090 shares of the business services provider's stock worth $854,000 after buying an additional 292 shares during the period. Whittier Trust Co. increased its position in shares of Paychex by 52.4% during the fourth quarter. Whittier Trust Co. now owns 24,774 shares of the business services provider's stock worth $3,474,000 after buying an additional 8,519 shares during the period. iA Global Asset Management Inc. raised its stake in Paychex by 22.5% during the fourth quarter. iA Global Asset Management Inc. now owns 48,555 shares of the business services provider's stock worth $6,808,000 after buying an additional 8,912 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Paychex by 13.6% in the fourth quarter. Teacher Retirement System of Texas now owns 115,359 shares of the business services provider's stock valued at $16,176,000 after buying an additional 13,835 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts have weighed in on PAYX shares. UBS Group increased their price target on 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 set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $133.23.

Paychex Stock Down 0.5 %

Shares of Paychex stock traded down $0.70 on Tuesday, hitting $144.13. The company had a trading volume of 3,387,206 shares, compared to its average volume of 1,782,556. Paychex, Inc. has a 1 year low of $114.72 and a 1 year 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. The stock has a 50 day moving average of $147.86 and a 200-day moving average of $142.89. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 4.10 and a beta of 0.98.

Paychex Dividend Announcement

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

About Paychex

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.