World Equity Group Inc. Takes Position in Paychex, Inc. (NASDAQ:PAYX)

World Equity Group Inc. purchased a new position in Paychex, Inc. (NASDAQ:PAYX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,644 shares of the business services provider’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in Paychex during the fourth quarter worth $28,000. Avion Wealth raised its stake in shares of Paychex by 469.8% during the 4th 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. Fortitude Family Office LLC boosted its position in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares in the last quarter. MilWealth Group LLC acquired a new stake in Paychex in the 4th quarter valued at about $35,000. Finally, Asset Planning Inc purchased a new position in Paychex during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Paychex stock opened at $148.51 on Monday. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The stock has a market capitalization of $53.47 billion, a P/E ratio of 31.27, a P/E/G ratio of 4.10 and a beta of 1.00. The firm’s 50-day moving average is $144.11 and its two-hundred day moving average is $139.81. 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 (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.64%. Paychex’s dividend payout ratio is presently 82.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PAYX shares. JPMorgan Chase & Co. raised their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Barclays raised their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Two research 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 currently has an average rating of “Hold” and an average 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.