Silver Lake Advisory LLC Has $7.21 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Silver Lake Advisory LLC decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 3.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 51,438 shares of the business services provider’s stock after selling 1,681 shares during the period. Paychex comprises 3.2% of Silver Lake Advisory LLC’s portfolio, making the stock its 4th biggest position. Silver Lake Advisory LLC’s holdings in Paychex were worth $7,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PAYX. International Assets Investment Management LLC increased its position in shares of Paychex by 38,655.2% in the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock valued at $107,340,000 after acquiring an additional 797,843 shares during the last quarter. Barclays PLC increased its position in shares of Paychex by 46.2% during the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after purchasing an additional 552,540 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Paychex by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after purchasing an additional 345,682 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Paychex by 2,404.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider’s stock valued at $46,391,000 after buying an additional 317,634 shares during the last quarter. Finally, Unigestion Holding SA increased its holdings in Paychex by 2,139.2% during the third quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock worth $39,667,000 after buying an additional 282,487 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYX. Stifel Nicolaus increased their price target on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. UBS Group lifted 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, Morgan Stanley increased their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.23.

Paychex Stock Performance

Shares of NASDAQ:PAYX opened at $144.75 on Friday. 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 12-month low of $114.72 and a 12-month high of $150.71. The company’s 50 day moving average price is $142.14 and its two-hundred day moving average price is $135.89. The firm has a market cap of $52.12 billion, a PE ratio of 30.47, a PEG ratio of 3.95 and a beta of 1.00.

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, topping analysts’ consensus estimates 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 return on equity of 45.28% and a net margin of 32.02%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.71%. Paychex’s dividend payout ratio is 82.53%.

About Paychex

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.