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:PAYXFree Report) 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.

Get Our Latest Analysis on PAYX

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:PAYXGet Free Report) 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

(Free Report)

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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