Entropy Technologies LP Acquires New Stake in Paychex, Inc. (NASDAQ:PAYX)

Entropy Technologies LP bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,596 shares of the business services provider’s stock, valued at approximately $925,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYX. Atomi Financial Group Inc. acquired a new stake in Paychex in the 3rd quarter valued at approximately $218,000. CWM LLC grew its stake in shares of Paychex by 13.9% during the 3rd quarter. CWM LLC now owns 18,998 shares of the business services provider’s stock worth $2,549,000 after acquiring an additional 2,321 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Paychex by 72.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,030 shares of the business services provider’s stock valued at $541,000 after purchasing an additional 1,697 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Paychex by 7.3% in the third quarter. Koshinski Asset Management Inc. now owns 7,717 shares of the business services provider’s stock worth $1,035,000 after purchasing an additional 522 shares in the last quarter. Finally, CVA Family Office LLC boosted its holdings in Paychex by 5.6% during the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $147.01 on Tuesday. 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 has a market capitalization of $52.93 billion, a P/E ratio of 30.95, a P/E/G ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $151.72. The stock has a 50 day moving average of $143.02 and a 200-day moving average of $138.26.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared 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 is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.67%. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PAYX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $132.23.

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.