Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by Addison Advisors LLC

Addison Advisors LLC raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,057 shares of the business services provider’s stock after buying an additional 100 shares during the quarter. Addison Advisors LLC’s holdings in Paychex were worth $148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYX. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the fourth quarter valued at $28,000. Fortitude Family Office LLC boosted its holdings in shares of 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 buying an additional 74 shares during the period. Avion Wealth grew its position in shares of Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. MilWealth Group LLC acquired a new stake in Paychex in the 4th quarter valued at approximately $35,000. Finally, Quest Partners LLC acquired a new stake in shares of Paychex in the third quarter worth $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Barclays increased their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Performance

PAYX stock opened at $151.00 on Wednesday. The business’s fifty day moving average is $144.50 and its 200-day moving average is $140.18. The company has a market cap of $54.37 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. 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 twelve month low of $114.72 and a twelve month high of $151.86.

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

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is 82.53%.

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.