Bray Capital Advisors Lowers Position in Paychex, Inc. (NASDAQ:PAYX)

Bray Capital Advisors lowered its stake in shares of Paychex, Inc. (NASDAQ:PAYXFree Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,183 shares of the business services provider’s stock after selling 230 shares during the period. Bray Capital Advisors’ holdings in Paychex were worth $3,111,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Monument Capital Management lifted its position in Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after acquiring an additional 72 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of Paychex by 2.6% during the 4th 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. Fortitude Family Office LLC raised its holdings in Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares in the last quarter. Emerald Advisors LLC raised its holdings in Paychex by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 74 shares in the last quarter. Finally, Kanawha Capital Management LLC boosted its stake in Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven 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 a consensus target price of $132.23.

Read Our Latest Stock Analysis on Paychex

Paychex Trading Up 0.1 %

Shares of NASDAQ:PAYX opened at $150.26 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $143.96 and its 200 day moving average price is $139.43. The company has a market cap of $54.10 billion, a PE ratio of 31.63, a P/E/G ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $151.72.

Paychex (NASDAQ:PAYXGet Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating 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 company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.61%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

About Paychex

(Free Report)

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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