Paychex, Inc. (NASDAQ:PAYX) Shares Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC raised its stake in Paychex, Inc. (NASDAQ:PAYX) by 46,254.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,943 shares of the business services provider’s stock after purchasing an additional 57,818 shares during the period. New Age Alpha Advisors LLC’s holdings in Paychex were worth $8,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Union Bancaire Privee UBP SA purchased a new stake in shares of Paychex in the fourth quarter valued at about $28,000. Millstone Evans Group LLC bought a new position in shares of Paychex during the fourth quarter worth about $33,000. Avion Wealth grew 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 acquiring an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex in the 4th quarter worth $35,000. Finally, Asset Planning Inc acquired a new stake in Paychex during the 4th quarter valued at $36,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Paychex Trading Up 1.1 %

NASDAQ PAYX opened at $151.83 on Friday. The company has a market capitalization of $54.67 billion, a PE ratio of 31.96, a P/E/G 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. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a fifty day moving average of $148.13 and a 200 day moving average of $143.10.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share 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 analysts’ expectations of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.38 earnings per share. Research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.58%. Paychex’s dividend payout ratio is currently 81.67%.

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.