Valeo Financial Advisors LLC Boosts Holdings in Paychex, Inc. (NASDAQ:PAYX)

Valeo Financial Advisors LLC boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,927 shares of the business services provider’s stock after purchasing an additional 320 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Paychex were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PAYX. Vontobel Holding Ltd. lifted its stake in Paychex by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,319 shares of the business services provider’s stock worth $1,519,000 after purchasing an additional 154 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Paychex by 19.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the business services provider’s stock valued at $1,159,000 after buying an additional 1,384 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Paychex by 2.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,350 shares of the business services provider’s stock valued at $4,609,000 after buying an additional 799 shares in 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 valued at $1,023,000 after buying an additional 4,799 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Paychex by 18.6% during the 3rd quarter. Capital Investment Advisors LLC now owns 10,218 shares of the business services provider’s stock valued at $1,371,000 after buying an additional 1,602 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. 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 research report on Monday, December 23rd. JPMorgan Chase & Co. raised 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, Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $132.23.

Paychex Price Performance

Shares of Paychex stock opened at $147.25 on Monday. The firm has a market cap of $53.02 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $143.36 and its two-hundred day simple moving average is $138.91.

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

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, February 7th. Paychex’s 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.