Glenview Trust co Trims Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Glenview Trust co decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,872 shares of the business services provider’s stock after selling 361 shares during the quarter. Glenview Trust co’s holdings in Paychex were worth $2,786,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC grew its stake in Paychex by 107.0% during the 4th quarter. Corient Private Wealth LLC now owns 927,590 shares of the business services provider’s stock worth $130,066,000 after buying an additional 479,488 shares during the last quarter. one8zero8 LLC purchased a new position in shares of Paychex during the fourth quarter worth approximately $216,000. Natixis Advisors LLC increased its holdings in shares of Paychex by 8.2% in the 4th quarter. Natixis Advisors LLC now owns 108,122 shares of the business services provider’s stock valued at $15,161,000 after acquiring an additional 8,152 shares during the period. Frank Rimerman Advisors LLC raised its position in Paychex by 2.7% in the 4th quarter. Frank Rimerman Advisors LLC now owns 14,373 shares of the business services provider’s stock valued at $2,015,000 after purchasing an additional 376 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Paychex during the 4th quarter worth $251,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of research reports. UBS Group upped their target price on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $133.23.

Paychex Stock Up 1.3 %

PAYX stock opened at $145.44 on Monday. 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 company’s 50-day moving average price is $147.06 and its 200 day moving average price is $142.26. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The company has a market cap of $52.37 billion, a P/E ratio of 30.62, a P/E/G ratio of 4.10 and a beta of 0.98.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $1.08 earnings per share. On average, research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were issued 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 yield of 2.70%. Paychex’s dividend payout ratio (DPR) 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.