Catalina Capital Group LLC Has $332,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Catalina Capital Group LLC increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,365 shares of the business services provider’s stock after buying an additional 97 shares during the period. Catalina Capital Group LLC’s holdings in Paychex were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAYX. Mutual Advisors LLC increased its holdings in Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 73 shares in the last quarter. CVA Family Office LLC grew 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 worth $186,000 after acquiring an additional 74 shares during the period. Fortitude Family Office LLC raised its position in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares during the period. Kanawha Capital Management LLC increased its holdings in shares of Paychex by 1.8% in the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after acquiring an additional 75 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its position in Paychex by 2.2% in the 3rd quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 79 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $148.62 on Tuesday. The firm’s fifty day moving average is $142.69 and its two-hundred day moving average is $137.35. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71. The company has a market cap of $53.51 billion, a P/E ratio of 31.29, a P/E/G ratio of 4.03 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. As a group, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Barclays boosted their price target on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.23.

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.