Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 64.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,843 shares of the business services provider’s stock after acquiring an additional 4,239 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Paychex were worth $1,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mattern Capital Management LLC grew its holdings in Paychex by 0.4% during the 4th quarter. Mattern Capital Management LLC now owns 64,911 shares of the business services provider’s stock valued at $9,102,000 after buying an additional 248 shares during the last quarter. Zullo Investment Group Inc. acquired a new stake in Paychex during the 4th quarter valued at $200,000. Boston Financial Mangement LLC grew its holdings in Paychex by 103.7% during the 4th quarter. Boston Financial Mangement LLC now owns 3,397 shares of the business services provider’s stock valued at $476,000 after buying an additional 1,729 shares during the last quarter. First Bank & Trust grew its holdings in Paychex by 80.1% during the 4th quarter. First Bank & Trust now owns 6,817 shares of the business services provider’s stock valued at $956,000 after buying an additional 3,031 shares during the last quarter. Finally, Wealth Alliance grew its holdings in Paychex by 1.5% during the 4th quarter. Wealth Alliance now owns 7,616 shares of the business services provider’s stock valued at $1,068,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price target on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Two equities research 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 stock presently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Up 0.1 %

Shares of NASDAQ PAYX opened at $150.26 on Friday. The stock has a fifty day moving average price of $143.96 and a 200 day moving average price of $139.43. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $54.10 billion, a P/E ratio of 31.63, a P/E/G ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72.

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

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.61%. Paychex’s dividend payout ratio is presently 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.