Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,810 shares of the business services provider’s stock after selling 109 shares during the quarter. Heritage Wealth Advisors’ holdings in Paychex were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PAYX. Union Bancaire Privee UBP SA purchased a new stake in shares of Paychex during the fourth quarter worth about $28,000. Millstone Evans Group LLC acquired a new stake in Paychex during the fourth quarter worth approximately $33,000. Avion Wealth grew its stake in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after acquiring an additional 202 shares during the period. MilWealth Group LLC acquired a new position in Paychex in the 4th quarter valued at $35,000. Finally, Quest Partners LLC purchased a new position in shares of Paychex during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Down 0.5 %

Shares of PAYX stock opened at $144.13 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $158.37. The firm’s 50 day moving average price is $147.91 and its two-hundred day moving average price is $142.99. The stock has a market cap of $51.90 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PAYX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. UBS Group lifted their price target on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Barclays increased their price objective 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 research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.23.

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.