Hendershot Investments Inc. Sells 263 Shares of Paychex, Inc. (NASDAQ:PAYX)

Hendershot Investments Inc. reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,014 shares of the business services provider’s stock after selling 263 shares during the quarter. Paychex comprises 1.3% of Hendershot Investments Inc.’s holdings, making the stock its 28th biggest position. Hendershot Investments Inc.’s holdings in Paychex were worth $9,256,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mutual Advisors LLC lifted its position in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after purchasing an additional 73 shares during the period. CVA Family Office LLC lifted its holdings in shares of Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after acquiring an additional 74 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. Kanawha Capital Management LLC boosted its position in shares of Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after acquiring an additional 75 shares in the last quarter. Finally, Weaver Capital Management LLC increased its stake in Paychex by 3.7% in the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 75 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Trading Down 2.2 %

PAYX opened at $146.74 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $151.72. The company’s 50 day moving average price is $143.02 and its two-hundred day moving average price is $138.05. The firm has a market capitalization of $52.84 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 4.10 and a beta of 1.00.

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

Paychex Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.67%. Paychex’s payout ratio is 82.53%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PAYX. JPMorgan Chase & Co. lifted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.