Paychex, Inc. (NASDAQ:PAYX) Position Boosted by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 72.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,777 shares of the business services provider’s stock after acquiring an additional 2,432 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Paychex were worth $810,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Raymond James & Associates grew its position in shares of Paychex by 27.4% during the 3rd quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock valued at $132,636,000 after buying an additional 212,700 shares during the last quarter. Guinness Asset Management LTD grew its holdings in shares of Paychex by 4.6% during the third quarter. Guinness Asset Management LTD now owns 1,567,667 shares of the business services provider’s stock valued at $210,282,000 after purchasing an additional 68,627 shares during the last quarter. Blue Trust Inc. raised its position in shares of Paychex by 169.9% during the 3rd quarter. Blue Trust Inc. now owns 7,624 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 4,799 shares during the period. Royal London Asset Management Ltd. raised its position in shares of Paychex by 2.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock worth $25,182,000 after purchasing an additional 4,157 shares during the period. Finally, Miracle Mile Advisors LLC boosted its position in Paychex by 91.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock valued at $1,515,000 after purchasing an additional 5,153 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYX has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Finally, Barclays upped their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $132.23.

Paychex Stock Up 0.9 %

PAYX opened at $150.87 on Thursday. The stock’s fifty day moving average is $142.93 and its 200-day moving average is $137.80. Paychex, Inc. has a one year low of $114.72 and a one year high of $151.01. The company has a market capitalization of $54.32 billion, a PE ratio of 31.76, a P/E/G ratio of 4.03 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

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

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders 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 dividend yield of 2.60%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

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.