Advisor OS LLC Has $289,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Advisor OS LLC raised its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,426 shares of the business services provider’s stock after purchasing an additional 151 shares during the quarter. Advisor OS LLC’s holdings in Paychex were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PAYX. Ethos Financial Group LLC boosted its stake in Paychex by 4.6% in the fourth quarter. Ethos Financial Group LLC now owns 1,952 shares of the business services provider’s stock worth $232,000 after buying an additional 85 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Paychex by 0.5% in the 4th quarter. Griffin Asset Management Inc. now owns 18,225 shares of the business services provider’s stock worth $2,171,000 after purchasing an additional 88 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Paychex by 5.1% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,908 shares of the business services provider’s stock valued at $227,000 after buying an additional 92 shares during the period. Rogco LP grew its holdings in shares of Paychex by 1.1% during the 4th quarter. Rogco LP now owns 8,469 shares of the business services provider’s stock worth $1,009,000 after acquiring an additional 93 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Paychex by 3.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,852 shares of the business services provider’s stock worth $329,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Up 0.9 %

Shares of PAYX stock traded up $1.07 during trading hours on Tuesday, hitting $125.84. 164,187 shares of the company were exchanged, compared to its average volume of 1,746,224. The firm has a market cap of $45.30 billion, a PE ratio of 27.18, a PEG ratio of 3.46 and a beta of 0.93. Paychex, Inc. has a 1 year low of $104.09 and a 1 year high of $129.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $121.36 and a 200 day moving average of $120.62.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. Analysts expect that Paychex, Inc. will post 4.71 earnings per share for the current year.

Paychex announced that its Board of Directors has authorized a share repurchase plan on Friday, January 19th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Friday, May 10th will be paid a dividend of $0.98 per share. This is a boost from Paychex’s previous quarterly dividend of $0.89. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, May 9th. Paychex’s payout ratio is currently 85.40%.

Analyst Ratings Changes

Several analysts recently commented on PAYX shares. Evercore ISI reissued an “in-line” rating and set a $118.00 price objective on shares of Paychex in a research report on Tuesday, March 26th. Bank of America upped their price objective on Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a research report on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of Paychex in a report on Wednesday, April 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research note on Wednesday, April 3rd. Finally, TD Cowen dropped their target price on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus target price of $123.00.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.