Robeco Institutional Asset Management B.V. Has $8.78 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 62,631 shares of the business services provider’s stock after buying an additional 581 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Paychex were worth $8,782,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new position in Paychex during the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its holdings 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 valued at $34,000 after buying an additional 74 shares during the last quarter. Quarry LP boosted its holdings in shares of Paychex by 152.6% in the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the last quarter. Quest Partners LLC bought a new position in shares of Paychex in the third quarter valued at $36,000. Finally, Dunhill Financial LLC increased its holdings in Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after buying an additional 274 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PAYX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. 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 research note on Tuesday, November 19th. Finally, Barclays boosted their price target on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $132.23.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $147.67 on Friday. The firm has a market cap of $53.17 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 4.01 and a beta of 1.00. The business’s 50 day moving average is $142.69 and its 200-day moving average is $137.19. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $150.71.

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

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

About Paychex

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.