Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 331.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,187 shares of the business services provider’s stock after acquiring an additional 912 shares during the period. SRS Capital Advisors Inc.’s holdings in Paychex were worth $166,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PAYX. State Street Corp lifted its position in shares of Paychex by 0.5% during the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock worth $1,775,365,000 after purchasing an additional 60,455 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Paychex by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after buying an additional 345,682 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Paychex by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock worth $1,262,700,000 after acquiring an additional 190,937 shares in the last quarter. Barclays PLC increased its holdings in shares of Paychex by 46.2% in the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after acquiring an additional 552,540 shares during the last quarter. Finally, Guinness Asset Management LTD raised its position in shares of Paychex by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock worth $231,295,000 after acquiring an additional 82,091 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $152.10 on Thursday. The stock has a fifty day moving average price of $145.94 and a 200 day moving average price of $141.17. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $154.98. 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 cap of $54.77 billion, a PE ratio of 32.02, a P/E/G ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is 82.53%.

Wall Street Analyst Weigh In

Several equities 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. Barclays increased their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. UBS Group boosted their price target on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.