8,265 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, HoldingsChannel reports. The firm bought 8,265 shares of the business services provider’s stock, valued at approximately $1,159,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC bought a new position in shares of Paychex during the fourth quarter worth $204,000. Strategic Financial Concepts LLC purchased a new stake in Paychex during the fourth quarter valued at $3,872,000. Allworth Financial LP raised its stake in Paychex by 14.7% during the fourth quarter. Allworth Financial LP now owns 10,777 shares of the business services provider’s stock valued at $1,560,000 after purchasing an additional 1,382 shares in the last quarter. Principal Securities Inc. raised its stake in Paychex by 3.6% during the fourth quarter. Principal Securities Inc. now owns 13,338 shares of the business services provider’s stock valued at $1,870,000 after purchasing an additional 459 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC raised its stake in Paychex by 5.1% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 3,627 shares of the business services provider’s stock valued at $509,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAYX. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays upped their price target 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. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $132.23.

Paychex Trading Down 0.9 %

Shares of PAYX opened at $147.25 on Friday. The company has a market cap of $53.02 billion, a P/E ratio of 31.00, a P/E/G ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.72. The company’s fifty day simple moving average is $143.36 and its 200-day simple moving average is $138.83. 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 (NASDAQ:PAYX) last posted its quarterly 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. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. As a group, analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.

About Paychex

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.