Boomfish Wealth Group LLC Raises Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Boomfish Wealth Group LLC lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,740 shares of the business services provider’s stock after purchasing an additional 240 shares during the period. Boomfish Wealth Group LLC’s holdings in Paychex were worth $1,506,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in Paychex in the 4th quarter worth approximately $28,000. Fortitude Family Office LLC increased its position in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Quest Partners LLC purchased a new position in Paychex during the 3rd quarter valued at $36,000. Quarry LP raised its holdings in Paychex by 152.6% in the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of Paychex in the 4th quarter worth about $42,000. 83.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PAYX. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. Barclays upped 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. Finally, JPMorgan Chase & Co. raised their target price on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $148.05 on Friday. The firm has a market cap of $53.31 billion, a P/E ratio of 31.17, a PEG ratio of 4.01 and a beta of 1.00. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $142.55 and a 200 day moving average of $136.93.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

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 paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.65%. Paychex’s dividend payout ratio is presently 82.53%.

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.