Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,387 shares of the business services provider’s stock after buying an additional 945 shares during the period. Paychex makes up approximately 1.2% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 27th biggest holding. Fenimore Asset Management Inc owned 0.12% of Paychex worth $58,806,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PAYX. Fortitude Family Office LLC lifted its position in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. Quest Partners LLC acquired a new stake in shares of Paychex during the third quarter worth about $36,000. Quarry LP lifted its holdings in shares of Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares during the period. City Holding Co. purchased a new stake in Paychex in the fourth quarter valued at approximately $42,000. Finally, Dunhill Financial LLC increased its holdings in Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after buying an additional 274 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Up 0.9 %

Shares of NASDAQ:PAYX opened at $146.11 on Friday. The business’s 50 day moving average price is $142.19 and its 200-day moving average price is $136.16. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $150.71. The firm has a market capitalization of $52.61 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick 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 (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.68%. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAYX. Barclays upped 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. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. UBS Group upped their target price on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen lifted their price target on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Company 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.