Greykasell Wealth Strategies Inc. Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Greykasell Wealth Strategies Inc. bought a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, Holdings Channel reports. The fund bought 1,790 shares of the business services provider’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Monument Capital Management grew its position in Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after acquiring an additional 72 shares in the last quarter. Mutual Advisors LLC lifted its stake in shares of 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 purchasing an additional 73 shares during the last quarter. Emerald Advisors LLC boosted its holdings in shares of Paychex by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after purchasing an additional 74 shares during the period. Weaver Capital Management LLC increased its position in shares of 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 during the last quarter. Finally, Adero Partners LLC raised its holdings in Paychex by 3.2% during 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 period. Institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAYX. UBS Group boosted their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Barclays increased their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two equities 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, Paychex has an average rating of “Hold” and a consensus price target of $133.23.

Paychex Trading Up 1.3 %

PAYX opened at $145.44 on Friday. The firm has a market cap of $52.37 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $147.06 and a 200-day moving average price of $142.17.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were issued a $0.98 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.70%. Paychex’s dividend payout ratio is currently 82.53%.

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.