Tectonic Advisors LLC Grows Position in Paychex, Inc. (NASDAQ:PAYX)

Tectonic Advisors LLC boosted its stake in Paychex, Inc. (NASDAQ:PAYX) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,920 shares of the business services provider’s stock after buying an additional 4,850 shares during the period. Tectonic Advisors LLC’s holdings in Paychex were worth $6,860,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Mutual Advisors LLC raised its holdings in shares of Paychex by 2.6% in the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after buying an additional 73 shares during the last quarter. CVA Family Office LLC raised its stake in Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 74 shares during the last quarter. Fortitude Family Office LLC lifted 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 worth $34,000 after acquiring an additional 74 shares during the period. Kanawha Capital Management LLC grew its stake in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 75 shares during the last quarter. Finally, Weaver Capital Management LLC increased its holdings in shares of Paychex by 3.7% in the fourth 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. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

PAYX stock opened at $149.51 on Wednesday. The firm has a 50 day moving average of $142.83 and a 200-day moving average of $137.71. The company has a market cap of $53.83 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 4.03 and a beta of 1.00. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71.

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

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.62%. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Ratings Changes

A number of research firms recently weighed in on PAYX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Barclays boosted their price target on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.