Paychex, Inc. (NASDAQ:PAYX) Stock Position Lifted by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 32.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,065 shares of the business services provider’s stock after purchasing an additional 1,237 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Paychex were worth $710,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PAYX. Monument Capital Management grew its holdings in Paychex by 4.4% in the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after buying an additional 72 shares during the last quarter. Mutual Advisors LLC grew its holdings in Paychex by 2.6% in the 4th 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 during the last quarter. Emerald Advisors LLC grew its holdings in Paychex by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after buying an additional 74 shares during the last quarter. Weaver Capital Management LLC grew its holdings in Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after buying an additional 75 shares during the last quarter. Finally, Adero Partners LLC grew its holdings in Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock valued at $335,000 after buying an additional 75 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Paychex stock opened at $153.48 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $55.26 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a one year low of $114.72 and a one year high of $154.98. The business has a 50 day simple moving average of $146.33 and a 200 day simple moving average of $141.43.

Paychex (NASDAQ:PAYX) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping 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 return on equity of 45.28% and a net margin of 32.02%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. On average, sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.55%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Analyst Ratings Changes

A number of analysts have issued reports on PAYX shares. Barclays raised 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. UBS Group raised their target price on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Paychex has a consensus rating of “Hold” and an average price target 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.