Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC raised its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,911 shares of the business services provider’s stock after buying an additional 248 shares during the period. Mattern Capital Management LLC’s holdings in Paychex were worth $9,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in Paychex by 0.5% in the third quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock valued at $1,775,365,000 after buying an additional 60,455 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Paychex by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock valued at $1,278,142,000 after buying an additional 345,682 shares in the last quarter. Geode Capital Management LLC raised its stake in Paychex by 2.1% in the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock valued at $1,262,700,000 after buying an additional 190,937 shares in the last quarter. Barclays PLC raised its stake in Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after buying an additional 552,540 shares in the last quarter. Finally, Guinness Asset Management LTD raised its stake in Paychex by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock valued at $231,295,000 after buying an additional 82,091 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of analyst reports. Barclays raised their price target on 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 reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research report 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 investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Performance

Shares of PAYX stock opened at $150.26 on Friday. The stock has a market capitalization of $54.10 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.72. The stock’s 50-day moving average price is $143.96 and its 200 day moving average price is $139.43. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 45.28% and a net margin of 32.02%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. As a group, equities research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, February 7th. 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.