Paychex, Inc. (NASDAQ:PAYX) is Van Cleef Asset Management Inc’s 10th Largest Position

Van Cleef Asset Management Inc raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,522 shares of the business services provider’s stock after buying an additional 331 shares during the quarter. Paychex comprises approximately 2.2% of Van Cleef Asset Management Inc’s portfolio, making the stock its 10th biggest position. Van Cleef Asset Management Inc’s holdings in Paychex were worth $20,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new position in Paychex during the 4th quarter valued at approximately $28,000. Fortitude Family Office LLC increased its stake in Paychex by 42.0% during the 3rd 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 in the last quarter. Avion Wealth raised its holdings in Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares during the last quarter. MilWealth Group LLC purchased a new stake in shares of Paychex during the fourth quarter valued at approximately $35,000. Finally, Quest Partners LLC bought a new stake in shares of Paychex during the third quarter valued at approximately $36,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Down 0.3 %

Shares of PAYX opened at $148.76 on Friday. The firm has a market cap of $53.56 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $151.86. The company has a 50 day simple moving average of $144.99 and a two-hundred day simple moving average of $140.30.

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

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is 82.53%.

Analyst Ratings Changes

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

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.