Haverford Trust Co Sells 794 Shares of Paychex, Inc. (NASDAQ:PAYX)

Haverford Trust Co decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,597 shares of the business services provider’s stock after selling 794 shares during the period. Haverford Trust Co’s holdings in Paychex were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Paychex by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider’s stock valued at $4,419,878,000 after purchasing an additional 174,817 shares in the last quarter. State Street Corp lifted its stake in Paychex by 0.5% in the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock valued at $1,775,365,000 after purchasing an additional 60,455 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Paychex by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock valued at $1,408,458,000 after buying an additional 519,761 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Paychex by 2.1% during the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock worth $1,262,700,000 after buying an additional 190,937 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Paychex by 46.2% during the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after buying an additional 552,540 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Finally, Barclays raised their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $133.23.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $144.13 on Wednesday. The company has a market capitalization of $51.90 billion, a PE ratio of 30.34, a P/E/G ratio of 4.10 and a beta of 0.98. 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, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. The firm has a fifty day simple moving average of $147.91 and a 200 day simple moving average of $142.99.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is 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.