Motley Fool Wealth Management LLC Decreases Holdings in Paychex, Inc. (NASDAQ:PAYX)

Motley Fool Wealth Management LLC decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 83,184 shares of the business services provider’s stock after selling 3,419 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Paychex were worth $11,694,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Paychex in the fourth quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex in the 4th quarter worth about $33,000. Avion Wealth grew its position in Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in Paychex in the fourth quarter worth $35,000. Finally, Asset Planning Inc bought a new stake in shares of Paychex in the 4th quarter valued at about $36,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Down 0.5 %

NASDAQ:PAYX opened at $144.13 on Wednesday. The firm has a fifty day simple moving average of $147.91 and a 200-day simple moving average of $142.99. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37. 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 capitalization of $51.90 billion, a P/E ratio of 30.34, a PEG ratio of 4.10 and a beta of 0.98.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is 82.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PAYX shares. UBS Group lifted their price objective on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $133.23.

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.