Childress Capital Advisors LLC Has $209,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Childress Capital Advisors LLC lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,490 shares of the business services provider’s stock after selling 125 shares during the quarter. Childress Capital Advisors LLC’s holdings in Paychex were worth $209,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in Paychex by 27.4% in the 3rd quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock worth $132,636,000 after purchasing an additional 212,700 shares during the last quarter. Guinness Asset Management LTD lifted its stake in shares of Paychex by 4.6% in the third quarter. Guinness Asset Management LTD now owns 1,567,667 shares of the business services provider’s stock worth $210,282,000 after buying an additional 68,627 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Paychex by 169.9% during the 3rd quarter. Blue Trust Inc. now owns 7,624 shares of the business services provider’s stock worth $1,023,000 after buying an additional 4,799 shares during the period. Royal London Asset Management Ltd. grew its stake in Paychex by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock valued at $25,182,000 after buying an additional 4,157 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in Paychex by 91.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock worth $1,515,000 after acquiring an additional 5,153 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Performance

NASDAQ:PAYX opened at $149.51 on Wednesday. The firm has a market capitalization of $53.83 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. The firm has a 50-day moving average price of $142.76 and a 200 day moving average price of $137.52.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The business 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s payout ratio is 82.53%.

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.