NEOS Investment Management LLC Has $5.69 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

NEOS Investment Management LLC lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,610 shares of the business services provider’s stock after purchasing an additional 7,608 shares during the quarter. NEOS Investment Management LLC’s holdings in Paychex were worth $5,694,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAYX. Vanguard Group Inc. grew its stake in Paychex by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider’s stock worth $4,419,878,000 after buying an additional 174,817 shares in the last quarter. State Street Corp lifted its holdings 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 worth $1,775,365,000 after acquiring an additional 60,455 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paychex by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock worth $1,408,458,000 after acquiring an additional 519,761 shares during the period. Geode Capital Management LLC boosted 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 acquiring an additional 190,937 shares in the last quarter. Finally, Barclays PLC increased its stake in Paychex by 46.2% in the third 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 during the last quarter. Institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday. 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. Citigroup boosted their target price on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, Stifel Nicolaus upped their price objective on shares of Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $137.58.

Paychex Stock Up 1.1 %

Shares of PAYX opened at $151.83 on Friday. The stock’s 50-day moving average price is $148.13 and its two-hundred day moving average price is $143.10. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37. The company has a market capitalization of $54.67 billion, a PE ratio of 31.96, a PEG ratio of 4.10 and a beta of 0.98. 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 issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company earned $1.38 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is currently 81.67%.

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.