Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 8.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,466 shares of the business services provider’s stock after selling 218 shares during the period. Beaumont Financial Advisors LLC’s holdings in Paychex were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYX. Fortitude Family Office LLC raised its holdings in shares of Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares during the last quarter. Quarry LP increased its position in shares of Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares in the last quarter. Quest Partners LLC acquired a new position in Paychex in the 3rd quarter valued at $36,000. Dunhill Financial LLC lifted its holdings in Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 274 shares in the last quarter. Finally, City Holding Co. acquired a new stake in Paychex during the 4th quarter worth $42,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Down 0.6 %

NASDAQ PAYX opened at $144.77 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $52.13 billion, a P/E ratio of 30.48, a PEG ratio of 4.00 and a beta of 1.00. The firm’s 50-day moving average is $142.18 and its two-hundred day moving average is $135.83. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $150.71.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently disclosed 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 2.71%. Paychex’s payout ratio is presently 82.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PAYX shares. Stifel Nicolaus increased their target price on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. UBS Group lifted their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Barclays upped their target price on Paychex from $135.00 to $140.00 and gave the company 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 given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.