1,507 Shares in Paychex, Inc. (NASDAQ:PAYX) Purchased by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,507 shares of the business services provider’s stock, valued at approximately $211,000.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of Paychex by 286.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Fortitude Family Office LLC grew its holdings in Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Quarry LP increased its position in Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after buying an additional 177 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Paychex in the third quarter valued at $36,000. Finally, Dunhill Financial LLC lifted its position in shares of Paychex by 805.9% during the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after buying an additional 274 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

PAYX has been the subject of several recent research reports. Barclays lifted 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. TD Cowen boosted their price target on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. UBS Group boosted their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Citigroup raised their price target on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley boosted their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $132.23.

Paychex Price Performance

PAYX stock opened at $140.53 on Tuesday. The firm has a 50 day simple moving average of $142.36 and a two-hundred day simple moving average of $134.67. The stock has a market cap of $50.60 billion, a PE ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.79%. 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.