Mutual of America Capital Management LLC Sells 1,098 Shares of Paychex, Inc. (NASDAQ:PAYX)

Mutual of America Capital Management LLC decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,378 shares of the business services provider’s stock after selling 1,098 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paychex were worth $5,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Monument Capital Management grew its position in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after buying an additional 72 shares in the last quarter. Mutual Advisors LLC grew its position in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after buying an additional 73 shares in the last quarter. Emerald Advisors LLC lifted its stake in shares of Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after purchasing an additional 74 shares during the last quarter. Kanawha Capital Management LLC boosted its position in Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 75 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its position in Paychex by 3.7% during the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $153.37 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $55.22 billion, a PE ratio of 32.29, a P/E/G ratio of 4.10 and a beta of 1.00. The business has a 50-day simple moving average of $145.51 and a two-hundred day simple moving average of $140.91. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $154.48.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results 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. 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 quarter last year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is 82.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAYX shares. Barclays raised 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the company currently 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.