Teacher Retirement System of Texas raised its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,359 shares of the business services provider's stock after buying an additional 13,835 shares during the quarter. Teacher Retirement System of Texas' holdings in Paychex were worth $16,176,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Monument Capital Management boosted its position in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock valued at $240,000 after acquiring an additional 72 shares in the last quarter. Mutual Advisors LLC lifted its stake in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock worth $423,000 after purchasing an additional 73 shares during the period. Emerald Advisors LLC boosted its holdings in Paychex by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock valued at $423,000 after purchasing an additional 74 shares in the last quarter. Weaver Capital Management LLC grew its stake in shares of Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock valued at $297,000 after purchasing an additional 75 shares during the period. Finally, Adero Partners LLC raised its holdings in shares of Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock worth $335,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently commented on PAYX. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, December 23rd. Finally, UBS Group increased their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, Paychex has an average rating of "Hold" and an average price target of $133.23.
Check Out Our Latest Stock Report on PAYX
Paychex Price Performance
Shares of NASDAQ PAYX traded down $0.70 during trading on Tuesday, reaching $144.13. The company had a trading volume of 3,387,206 shares, compared to its average volume of 1,788,253. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The business's 50 day moving average price is $147.91 and its 200-day moving average price is $142.99. The stock has a market cap of $51.90 billion, a PE ratio of 30.34, a PEG ratio of 4.10 and a beta of 0.98. 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 company 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 dividend on an annualized basis and a yield of 2.72%. Paychex's payout ratio is 82.53%.
Paychex Company Profile
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Free Report)
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.
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