Aware Super Pty Ltd as trustee of Aware Super Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 226,798 shares of the business services provider’s stock, valued at approximately $31,802,000. Aware Super Pty Ltd as trustee of Aware Super owned 0.06% of Paychex at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in Paychex by 220.7% during the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider’s stock worth $26,000 after acquiring an additional 128 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Paychex during the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC purchased a new position in Paychex during the fourth quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new position in Paychex in the fourth quarter worth approximately $33,000. Finally, Avion Wealth lifted its holdings in Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX opened at $146.75 on Monday. The business’s 50-day moving average is $148.12 and its two-hundred day moving average is $144.37. The company has a market capitalization of $52.86 billion, a P/E ratio of 30.89, a P/E/G ratio of 4.10 and a beta of 0.88. Paychex, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $158.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. Research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley boosted their price target on Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. UBS Group lifted their price objective on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Cfra Research raised shares of Paychex to a “hold” rating in a research report on Thursday, March 27th. Stifel Nicolaus upped their price target on Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.00.

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.