Bouchey Financial Group Ltd Acquires 264 Shares of Paychex, Inc. (NASDAQ:PAYX)

Bouchey Financial Group Ltd boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,738 shares of the business services provider’s stock after acquiring an additional 264 shares during the quarter. Bouchey Financial Group Ltd’s holdings in Paychex were worth $524,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Shoker Investment Counsel Inc. increased its stake in Paychex by 0.4% in the 4th quarter. Shoker Investment Counsel Inc. now owns 24,039 shares of the business services provider’s stock worth $3,371,000 after acquiring an additional 104 shares during the last quarter. QRG Capital Management Inc. increased its stake in Paychex by 0.6% in the 4th quarter. QRG Capital Management Inc. now owns 62,292 shares of the business services provider’s stock worth $8,735,000 after acquiring an additional 398 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Paychex by 30,382.8% in the 4th quarter. Proficio Capital Partners LLC now owns 568,809 shares of the business services provider’s stock worth $79,758,000 after acquiring an additional 566,943 shares during the last quarter. Kovack Advisors Inc. bought a new position in shares of Paychex during the 4th quarter valued at about $221,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Paychex by 4.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 129,180 shares of the business services provider’s stock valued at $18,114,000 after purchasing an additional 5,000 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. 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. JPMorgan Chase & Co. increased their price objective 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 reiterated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Trading Down 0.3 %

PAYX opened at $148.76 on Friday. The stock has a market cap of $53.56 billion, a PE ratio of 31.32, a PEG ratio of 4.10 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. The business has a 50 day moving average of $144.99 and a 200-day moving average of $140.30. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.86.

Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 19th. The business services provider reported $1.14 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

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 $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s payout ratio is 82.53%.

About Paychex

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.