IFP Advisors Inc Raises Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

IFP Advisors Inc raised its holdings in Paychex, Inc. (NASDAQ:PAYX) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,365 shares of the business services provider’s stock after purchasing an additional 712 shares during the period. IFP Advisors Inc’s holdings in Paychex were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Monument Capital Management raised its stake in Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after buying an additional 72 shares in the last quarter. Mutual Advisors LLC raised its stake in 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 acquiring an additional 73 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% in 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. Emerald Advisors LLC raised its stake in shares of 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 buying an additional 74 shares in the last quarter. Finally, Kanawha Capital Management LLC increased its holdings in shares of 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 in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Trading Down 0.3 %

NASDAQ:PAYX opened at $148.76 on Friday. The company has a market cap of $53.56 billion, a PE ratio of 31.32, a P/E/G ratio of 4.10 and a beta of 1.00. The business’s 50 day moving average is $144.99 and its two-hundred day moving average is $140.30. 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 52 week low of $114.72 and a 52 week high of $151.86.

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

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Upgrades and Downgrades

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