Paychex, Inc. (NASDAQ:PAYX) Holdings Reduced by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 911,646 shares of the business services provider’s stock after selling 10,758 shares during the quarter. Paychex comprises 8.0% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 4th largest position. Mcdonald Capital Investors Inc. CA owned 0.25% of Paychex worth $127,831,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Paychex in the fourth quarter valued at $184,216,000. Amundi raised its holdings in shares of Paychex by 77.9% in the 4th quarter. Amundi now owns 1,534,145 shares of the business services provider’s stock valued at $215,164,000 after buying an additional 672,010 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of 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 valued at $79,758,000 after buying an additional 566,943 shares during the period. Barclays PLC raised its holdings 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 buying an additional 552,540 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paychex by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock valued at $1,408,458,000 after buying an additional 519,761 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Trading Up 2.4 %

NASDAQ:PAYX opened at $153.48 on Monday. The stock has a 50-day simple moving average of $146.33 and a 200-day simple moving average of $141.64. The stock has a market cap of $55.26 billion, a P/E ratio of 32.31, a P/E/G ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $154.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, 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 was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is currently 82.53%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PAYX shares. JPMorgan Chase & Co. boosted their price objective on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Barclays boosted their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, UBS Group boosted their target price on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $133.23.

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.