Forsta AP Fonden Sells 5,300 Shares of Paychex, Inc. (NASDAQ:PAYX)

Forsta AP Fonden cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,000 shares of the business services provider’s stock after selling 5,300 shares during the period. Forsta AP Fonden’s holdings in Paychex were worth $17,808,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex during the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC grew its position in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after purchasing an additional 74 shares during the period. Quest Partners LLC bought a new stake in Paychex in the 3rd quarter worth approximately $36,000. Quarry LP raised its stake in Paychex by 152.6% during the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of Paychex during the 4th quarter valued at $42,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $146.89 on Thursday. The stock has a market cap of $52.89 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 3.95 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 firm has a fifty day moving average price of $142.45 and a 200-day moving average price of $136.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Equities analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analyst Weigh In

PAYX has been the subject of several research analyst reports. TD Cowen lifted their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Barclays increased their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Stifel Nicolaus raised their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their target price on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.