Perissos Private Wealth Management LLC Sells 212 Shares of Paychex, Inc. (NASDAQ:PAYX)

Perissos Private Wealth Management LLC lessened its stake in Paychex, Inc. (NASDAQ:PAYX) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,895 shares of the business services provider’s stock after selling 212 shares during the period. Perissos Private Wealth Management LLC’s holdings in Paychex were worth $406,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Paychex by 0.5% during the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock valued at $1,775,365,000 after acquiring an additional 60,455 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Paychex by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after purchasing an additional 345,682 shares during the period. Geode Capital Management LLC increased its holdings in Paychex by 2.1% in the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock valued at $1,262,700,000 after purchasing an additional 190,937 shares during the last quarter. Barclays PLC lifted its stake in Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after buying an additional 552,540 shares during the period. Finally, Guinness Asset Management LTD boosted its holdings in Paychex by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock worth $231,295,000 after buying an additional 82,091 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analysts Set New Price Targets

PAYX has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $132.23.

Paychex Trading Down 0.6 %

Shares of NASDAQ:PAYX opened at $146.10 on Wednesday. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $52.60 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The company has a 50-day simple moving average of $143.06 and a 200 day simple moving average of $138.42.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.68%. Paychex’s dividend payout ratio is currently 82.53%.

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.