Elo Mutual Pension Insurance Co Has $4.87 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Elo Mutual Pension Insurance Co grew its stake in Paychex, Inc. (NASDAQ:PAYX) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,735 shares of the business services provider’s stock after buying an additional 6,125 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Paychex were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the 4th quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Paychex in the 4th quarter valued at $33,000. Avion Wealth increased its position 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 during the period. MilWealth Group LLC bought a new position in Paychex during the fourth quarter worth $35,000. Finally, Quest Partners LLC acquired a new position in Paychex in the third quarter valued at $36,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Up 1.1 %

Paychex stock opened at $151.83 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $148.13 and its two-hundred day moving average price is $143.10. The firm has a market capitalization of $54.67 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $158.37.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. On average, equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were issued a dividend of $0.98 per share. 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 dividend payout ratio (DPR) is currently 81.67%.

Analysts Set New Price Targets

A number of analysts have weighed in on PAYX shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Citigroup raised their target price on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group raised their price objective on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, Paychex presently has an average rating of “Hold” and a consensus price target of $137.58.

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.