Keybank National Association OH Acquires 211 Shares of Paychex, Inc. (NASDAQ:PAYX)

Keybank National Association OH boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,292 shares of the business services provider’s stock after purchasing an additional 211 shares during the period. Keybank National Association OH’s holdings in Paychex were worth $4,808,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYX. Union Bancaire Privee UBP SA acquired a new position in shares of Paychex during the fourth quarter worth $28,000. Avion Wealth increased its holdings in shares of Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares in the last quarter. MilWealth Group LLC acquired a new position in shares of Paychex during the fourth quarter worth $35,000. Quest Partners LLC acquired a new position in shares of Paychex during the third quarter worth $36,000. Finally, Asset Planning Inc acquired a new position in shares of Paychex during the fourth quarter worth $36,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $133.23.

Paychex Price Performance

PAYX stock opened at $152.10 on Thursday. The stock has a market capitalization of $54.77 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The company’s 50-day moving average is $145.94 and its 200-day moving average is $141.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $154.98.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data 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 company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. Equities research analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.58%. Paychex’s 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.