Roof Eidam & Maycock ADV trimmed its position in Paychex, Inc. (NASDAQ:PAYX) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,865 shares of the business services provider’s stock after selling 250 shares during the period. Roof Eidam & Maycock ADV’s holdings in Paychex were worth $1,264,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Paychex by 9.7% during the second quarter. BlackRock Inc. now owns 34,524,333 shares of the business services provider’s stock valued at $2,841,008,000 after purchasing an additional 3,058,635 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paychex by 1.6% during the second quarter. Vanguard Group Inc. now owns 26,398,764 shares of the business services provider’s stock valued at $2,172,355,000 after purchasing an additional 425,365 shares in the last quarter. State Street Corp lifted its holdings in shares of Paychex by 0.5% during the third quarter. State Street Corp now owns 14,181,175 shares of the business services provider’s stock valued at $1,173,776,000 after purchasing an additional 75,792 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Paychex by 12.0% during the third quarter. California Public Employees Retirement System now owns 2,756,435 shares of the business services provider’s stock valued at $228,150,000 after purchasing an additional 295,602 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Paychex by 20.9% during the second quarter. Morgan Stanley now owns 2,011,993 shares of the business services provider’s stock valued at $165,567,000 after purchasing an additional 348,285 shares in the last quarter. 69.31% of the stock is currently owned by institutional investors.
PAYX has been the topic of a number of recent research reports. ValuEngine downgraded Paychex from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup raised Paychex from a “neutral” rating to a “buy” rating and increased their target price for the company from $84.00 to $97.00 in a report on Tuesday. Argus reissued a “buy” rating and issued a $92.00 target price on shares of Paychex in a report on Thursday, October 3rd. Barclays raised their price objective on Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Paychex in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $84.50.
Shares of NASDAQ:PAYX traded up $0.17 during trading on Friday, hitting $88.14. 14,383 shares of the company’s stock were exchanged, compared to its average volume of 1,344,754. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Paychex, Inc. has a 52-week low of $68.25 and a 52-week high of $88.43. The business’s 50-day simple moving average is $85.23 and its 200 day simple moving average is $83.95. The company has a market cap of $31.01 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 3.98 and a beta of 0.87.
Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Paychex had a return on equity of 41.21% and a net margin of 26.72%. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $988.26 million. During the same quarter last year, the business posted $0.65 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Paychex, Inc. will post 3.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.81%. Paychex’s dividend payout ratio is currently 87.32%.
Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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