Adero Partners LLC Raises Holdings in Paychex, Inc. (NASDAQ:PAYX)

Adero Partners LLC raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,391 shares of the business services provider’s stock after buying an additional 75 shares during the quarter. Adero Partners LLC’s holdings in Paychex were worth $335,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. Mutual Advisors LLC grew its stake in shares of Paychex by 2.6% in the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after buying an additional 73 shares in the last quarter. CVA Family Office LLC grew its position in Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 74 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Paychex by 42.0% during the third 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 during the period. Kanawha Capital Management LLC boosted its stake 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 valued at $575,000 after purchasing an additional 75 shares during the period. Finally, Weaver Capital Management LLC grew its holdings in Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 75 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Up 0.9 %

PAYX stock opened at $150.87 on Thursday. The firm has a fifty day moving average price of $142.83 and a two-hundred day moving average price of $137.71. 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 $151.01. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 4.03 and a beta of 1.00.

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

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.60%. Paychex’s dividend payout ratio is currently 82.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PAYX shares. Barclays boosted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, Paychex presently has a consensus rating of “Hold” and an average price target 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.