Union Bancaire Privee UBP SA Acquires New Position in Paychex, Inc. (NASDAQ:PAYX)

Union Bancaire Privee UBP SA purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 200 shares of the business services provider’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Monument Capital Management raised its stake in Paychex by 4.4% during the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after acquiring an additional 72 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 73 shares during the last quarter. Fortitude Family Office LLC increased 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 purchasing an additional 74 shares in the last quarter. Emerald Advisors LLC increased its position in Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after purchasing an additional 74 shares in the last quarter. Finally, Kanawha Capital Management LLC lifted its stake in Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 75 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Paychex Trading Up 0.7 %

NASDAQ:PAYX opened at $151.00 on Wednesday. The firm’s fifty day moving average is $144.50 and its 200-day moving average is $140.18. 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 52 week low of $114.72 and a 52 week high of $151.86. The firm has a market cap of $54.37 billion, a P/E ratio of 31.79, a P/E/G ratio of 4.10 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 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 business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s payout ratio is 82.53%.

Paychex 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.