ING Groep NV Has $621,000 Stock Position in Paychex, Inc. $PAYX

ING Groep NV lessened its stake in Paychex, Inc. (NASDAQ:PAYX) by 95.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,535 shares of the business services provider’s stock after selling 110,850 shares during the quarter. ING Groep NV’s holdings in Paychex were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Paychex in the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its position in Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after purchasing an additional 268 shares during the last quarter. Stance Capital LLC acquired a new position in Paychex during the 3rd quarter worth $31,000. Kingdom Financial Group LLC. acquired a new position in Paychex during the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new position in Paychex in the 4th quarter valued at $34,000. 83.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Stephens cut their price target on Paychex from $125.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. UBS Group decreased their price target on Paychex from $98.00 to $94.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Wells Fargo & Company lowered their price objective on Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a research report on Thursday, March 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Paychex in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $106.63.

Paychex Stock Performance

PAYX stock opened at $101.10 on Thursday. The business’s fifty day moving average is $93.61 and its 200-day moving average is $100.16. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.13. The company has a market cap of $36.22 billion, a P/E ratio of 22.27 and a beta of 0.84. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $155.57.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. Equities research analysts forecast that Paychex, Inc. will post 5.5 EPS for the current year.

Paychex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Wednesday, May 13th. This is an increase from Paychex’s previous quarterly dividend of $1.08. Paychex’s dividend payout ratio is presently 104.85%.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.