Jmac Enterprises LLC Sells 900 Shares of Paychex, Inc. (NASDAQ:PAYX)

Jmac Enterprises LLC decreased its stake in Paychex, Inc. (NASDAQ:PAYX) by 17.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,300 shares of the business services provider’s stock after selling 900 shares during the period. Jmac Enterprises LLC’s holdings in Paychex were worth $603,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in Paychex by 13.9% during the third quarter. CWM LLC now owns 18,998 shares of the business services provider’s stock valued at $2,549,000 after purchasing an additional 2,321 shares during the period. Procyon Advisors LLC grew its stake in shares of Paychex by 36.5% during the 3rd quarter. Procyon Advisors LLC now owns 5,494 shares of the business services provider’s stock worth $737,000 after acquiring an additional 1,470 shares during the period. Cornell Pochily Investment Advisors Inc. increased its holdings in Paychex by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 15,689 shares of the business services provider’s stock worth $2,105,000 after acquiring an additional 145 shares during the last quarter. Richwood Investment Advisors LLC raised its stake in Paychex by 14.3% in the 3rd quarter. Richwood Investment Advisors LLC now owns 1,997 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 250 shares during the period. Finally, RDA Financial Network lifted its holdings in Paychex by 39.9% during the third quarter. RDA Financial Network now owns 4,553 shares of the business services provider’s stock valued at $611,000 after purchasing an additional 1,299 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Performance

NASDAQ:PAYX opened at $146.10 on Wednesday. The stock has a market cap of $52.60 billion, a P/E ratio of 30.76, a PEG ratio of 4.10 and a beta of 1.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $143.06 and its two-hundred day moving average price is $138.42. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.72.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.08 earnings per share. As a group, equities analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors 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 yield of 2.68%. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Finally, Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $132.23.

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.