Bouchey Financial Group Ltd Acquires 264 Shares of Paychex, Inc. (NASDAQ:PAYX)

Bouchey Financial Group Ltd grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,738 shares of the business services provider’s stock after purchasing an additional 264 shares during the period. Bouchey Financial Group Ltd’s holdings in Paychex were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PAYX. Assenagon Asset Management S.A. boosted its stake in shares of Paychex by 36.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,210 shares of the business services provider’s stock worth $1,773,000 after buying an additional 3,544 shares during the last quarter. abrdn plc boosted its stake in shares of Paychex by 6.8% in the 3rd quarter. abrdn plc now owns 128,827 shares of the business services provider’s stock worth $17,313,000 after buying an additional 8,221 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in shares of Paychex in the 3rd quarter worth $217,000. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Paychex by 8.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,198 shares of the business services provider’s stock worth $2,710,000 after buying an additional 1,611 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PAYX shares. Barclays raised their price target on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. raised their price target on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $132.23.

Paychex Stock Performance

NASDAQ PAYX opened at $148.76 on Friday. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth 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 has a 50-day moving average price of $144.99 and a 200-day moving average price of $140.30. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $151.86.

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

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is presently 82.53%.

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.