CHICAGO TRUST Co NA Has $320,000 Holdings in Paychex, Inc. (NASDAQ:PAYX)

CHICAGO TRUST Co NA trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,281 shares of the business services provider’s stock after selling 255 shares during the period. CHICAGO TRUST Co NA’s holdings in Paychex were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PAYX. CVA Family Office LLC lifted its holdings in Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 74 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares during the last quarter. Kanawha Capital Management LLC boosted its holdings in shares of Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after buying an additional 75 shares during the period. Baron Wealth Management LLC boosted its holdings in shares of Paychex by 2.2% during the 3rd quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after buying an additional 79 shares during the period. Finally, Daymark Wealth Partners LLC grew its stake in Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after buying an additional 82 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

NASDAQ PAYX opened at $140.53 on Tuesday. The firm’s 50 day simple moving average is $142.36 and its 200 day simple moving average is $134.67. The firm has a market capitalization of $50.60 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $150.71.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share 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 firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, February 7th. Paychex’s payout ratio is 82.53%.

Analysts Set New Price Targets

Several brokerages have issued reports on PAYX. Stifel Nicolaus boosted their price objective on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. TD Cowen increased their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.23.

Paychex 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.