Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,853 shares of the business services provider’s stock after selling 155 shares during the quarter. Greenfield Savings Bank’s holdings in Paychex were worth $1,522,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after acquiring an additional 797,843 shares during the period. Barclays PLC boosted its holdings in Paychex by 46.2% in the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after acquiring an additional 552,540 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Paychex by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock worth $279,351,000 after acquiring an additional 384,184 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Paychex by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after acquiring an additional 345,682 shares during the period. Finally, Unigestion Holding SA boosted its holdings in Paychex by 2,139.2% in the 3rd quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock worth $39,667,000 after acquiring an additional 282,487 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $140.53 on Tuesday. The business’s fifty day moving average price is $142.36 and its two-hundred day moving average price is $134.67. The firm has a market capitalization of $50.60 billion, a PE ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $150.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. On average, research analysts expect that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.79%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAYX. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Finally, Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.