RWA Wealth Partners LLC Purchases 509 Shares of Paychex, Inc. (NASDAQ:PAYX)

RWA Wealth Partners LLC lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,309 shares of the business services provider’s stock after buying an additional 509 shares during the quarter. RWA Wealth Partners LLC’s holdings in Paychex were worth $744,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. grew its holdings in Paychex by 2.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock worth $25,182,000 after acquiring an additional 4,157 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Paychex by 91.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock worth $1,515,000 after purchasing an additional 5,153 shares during the period. MML Investors Services LLC increased its holdings in Paychex by 6.5% during the third quarter. MML Investors Services LLC now owns 329,080 shares of the business services provider’s stock valued at $44,159,000 after buying an additional 20,064 shares during the period. Franklin Resources Inc. increased its holdings in Paychex by 2.8% during the third quarter. Franklin Resources Inc. now owns 997,930 shares of the business services provider’s stock valued at $142,055,000 after buying an additional 27,296 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Paychex by 120.0% in the fourth quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider’s stock worth $973,000 after buying an additional 3,783 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX opened at $154.28 on Tuesday. 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’s fifty day moving average price is $148.38 and its 200-day moving average price is $143.51. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $158.37. The firm has a market capitalization of $55.55 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Friday, February 7th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is currently 81.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays increased their target price on Paychex from $140.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday. Morgan Stanley lifted their target price on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Stifel Nicolaus raised their price target on shares of Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, March 27th. Finally, UBS Group boosted their price objective on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.83.

About Paychex

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.