Soltis Investment Advisors LLC raised its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 886.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,416 shares of the business services provider's stock after acquiring an additional 13,854 shares during the period. Soltis Investment Advisors LLC's holdings in Paychex were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the business. State Street Corp grew its position in shares of Paychex by 0.5% in the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider's stock valued at $1,775,365,000 after purchasing an additional 60,455 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paychex by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider's stock valued at $1,278,142,000 after buying an additional 345,682 shares during the period. Geode Capital Management LLC increased its position in shares of Paychex by 2.1% during the third 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 raised its holdings in shares of Paychex by 46.2% during the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider's stock worth $234,627,000 after acquiring an additional 552,540 shares during the period. Finally, Guinness Asset Management LTD lifted its position in Paychex by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider's stock valued at $231,295,000 after acquiring an additional 82,091 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.
PAYX has been the subject of a number of research reports. Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, December 23rd. JPMorgan Chase & Co. lifted 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 restated a "sector perform" rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $132.23.
View Our Latest Report on PAYX
Shares of PAYX stock opened at $146.74 on Monday. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $52.84 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 4.10 and a beta of 1.00. The firm's 50-day moving average is $143.02 and its 200-day moving average is $138.15.
Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. The company 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%. The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.67%. Paychex's dividend payout ratio is currently 82.53%.
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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