Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,901 shares of the business services provider’s stock after selling 816 shares during the quarter. Global Retirement Partners LLC’s holdings in Paychex were worth $1,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atlas Legacy Advisors LLC purchased a new stake in shares of Paychex during the 4th quarter worth approximately $671,000. Bank of Jackson Hole Trust purchased a new stake in Paychex in the fourth quarter valued at $720,000. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Paychex by 21.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,510 shares of the business services provider’s stock valued at $1,614,000 after acquiring an additional 2,020 shares during the last quarter. Kestra Investment Management LLC boosted its stake in Paychex by 47.3% in the fourth quarter. Kestra Investment Management LLC now owns 6,588 shares of the business services provider’s stock valued at $924,000 after acquiring an additional 2,115 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Paychex by 4,234.8% during the fourth quarter. Venturi Wealth Management LLC now owns 7,846 shares of the business services provider’s stock worth $1,100,000 after purchasing an additional 7,665 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Up 0.1 %

Shares of Paychex stock opened at $150.26 on Friday. The company has a market cap of $54.10 billion, a P/E ratio of 31.63, a PEG ratio of 4.05 and a beta of 1.00. The firm has a fifty day moving average of $143.96 and a two-hundred day moving average of $139.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a one year low of $114.72 and a one year high of $151.72.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PAYX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.