PFW Advisors LLC Acquires New Shares in Paychex, Inc. (NASDAQ:PAYX)

PFW Advisors LLC bought a new position in Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,151 shares of the business services provider’s stock, valued at approximately $2,405,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in shares of Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares during the period. Fortitude Family Office LLC raised its holdings in 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. Quarry LP lifted its stake in Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Paychex in the third quarter worth about $36,000. Finally, Dunhill Financial LLC increased its position in shares of Paychex by 805.9% in the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Insider Transactions at Paychex

In other news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the sale, the chief financial officer now owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This trade represents a 42.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.40% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

Shares of NASDAQ:PAYX traded up $1.47 during trading on Monday, reaching $140.53. The stock had a trading volume of 1,430,540 shares, compared to its average volume of 1,884,239. The stock has a fifty day simple moving average of $142.35 and a two-hundred day simple moving average of $134.51. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The firm has a market capitalization of $50.60 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.79%. Paychex’s dividend payout ratio is 82.53%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Citigroup raised their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Finally, 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. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Company 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.