Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Lifted by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 72.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,777 shares of the business services provider’s stock after purchasing an additional 2,432 shares during the period. Buck Wealth Strategies LLC’s holdings in Paychex were worth $810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. Czech National Bank raised its position in Paychex by 6.9% during the third quarter. Czech National Bank now owns 65,291 shares of the business services provider’s stock valued at $8,761,000 after buying an additional 4,242 shares during the period. GAMMA Investing LLC increased its holdings in shares of Paychex by 21.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,491 shares of the business services provider’s stock valued at $603,000 after purchasing an additional 783 shares during the period. Aprio Wealth Management LLC purchased a new stake in shares of Paychex in the third quarter worth approximately $226,000. Dynamic Advisor Solutions LLC boosted its holdings in shares of Paychex by 2.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 34,325 shares of the business services provider’s stock worth $4,606,000 after purchasing an additional 752 shares during the period. Finally, Park Place Capital Corp grew its position in Paychex by 8.7% during the third quarter. Park Place Capital Corp now owns 3,062 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 245 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Up 0.9 %

Shares of PAYX opened at $150.87 on Thursday. The firm has a market capitalization of $54.32 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 4.03 and a beta of 1.00. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The business’s fifty day moving average price is $142.93 and its two-hundred day moving average price is $137.80.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.31 billion. During the same period last year, the company earned $1.08 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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 issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.60%. Paychex’s dividend payout ratio is currently 82.53%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAYX. JPMorgan Chase & Co. lifted their target price 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 restated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays raised their price target on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $132.23.

Paychex 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.