Jmac Enterprises LLC Has $603,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Jmac Enterprises LLC lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 17.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,300 shares of the business services provider’s stock after selling 900 shares during the quarter. Jmac Enterprises LLC’s holdings in Paychex were worth $603,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Paychex by 0.5% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paychex by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after buying an additional 345,682 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Paychex by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock worth $1,262,700,000 after buying an additional 190,937 shares during the period. Barclays PLC increased its stake in shares of Paychex by 46.2% in the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after acquiring an additional 552,540 shares in the last quarter. Finally, Guinness Asset Management LTD lifted its position in shares of Paychex by 5.2% during 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 during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.6 %

Shares of Paychex stock opened at $146.10 on Wednesday. The company has a market capitalization of $52.60 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The stock has a fifty day simple moving average of $143.06 and a 200 day simple moving average of $138.42. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX) last posted its earnings results 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. 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 analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.68%. Paychex’s payout ratio is presently 82.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PAYX shares. Barclays raised their price target on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. 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. Finally, JPMorgan Chase & Co. upped their price target on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $132.23.

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.