Unigestion Holding SA Acquires 1,079 Shares of Paychex, Inc. (NASDAQ:PAYX)

Unigestion Holding SA boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYXFree Report) by 8.9% in the fourth quarter, Holdings Channel reports. The firm owned 13,205 shares of the business services provider’s stock after purchasing an additional 1,079 shares during the quarter. Unigestion Holding SA’s holdings in Paychex were worth $1,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYX. Capital International Investors raised its stake in shares of Paychex by 9.0% in the fourth quarter. Capital International Investors now owns 18,504,389 shares of the business services provider’s stock valued at $2,204,115,000 after acquiring an additional 1,523,520 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Paychex by 337.3% in the third quarter. Federated Hermes Inc. now owns 1,544,806 shares of the business services provider’s stock valued at $178,162,000 after acquiring an additional 1,191,539 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Paychex by 229.8% in the third quarter. Ameriprise Financial Inc. now owns 1,630,944 shares of the business services provider’s stock valued at $188,655,000 after acquiring an additional 1,136,456 shares during the last quarter. Capital World Investors bought a new position in shares of Paychex in the fourth quarter valued at approximately $115,494,000. Finally, TD Asset Management Inc increased its holdings in shares of Paychex by 123.5% in the fourth quarter. TD Asset Management Inc now owns 1,386,462 shares of the business services provider’s stock valued at $165,141,000 after purchasing an additional 766,252 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PAYX. Evercore ISI reissued an “in-line” rating and issued a $118.00 price target on shares of Paychex in a report on Tuesday, March 26th. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of Paychex in a report on Wednesday, April 3rd. TD Cowen lowered their target price on shares of Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Bank of America lifted their target price on shares of Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $130.00 target price on shares of Paychex in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.00.

View Our Latest Stock Report on Paychex

Insiders Place Their Bets

In other Paychex news, Director David J. S. Flaschen sold 19,709 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the sale, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.50% of the company’s stock.

Paychex Trading Down 0.5 %

PAYX opened at $121.94 on Tuesday. The stock has a market capitalization of $43.89 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.40 and a beta of 0.96. Paychex, Inc. has a 12 month low of $106.27 and a 12 month high of $129.70. The firm’s fifty day simple moving average is $122.06 and its 200 day simple moving average is $121.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYXGet Free Report) last posted its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.37 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. As a group, research analysts anticipate that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Friday, May 10th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from Paychex’s previous quarterly dividend of $0.89. This represents a $3.92 annualized dividend and a yield of 3.21%. Paychex’s payout ratio is 85.40%.

Paychex Company Profile

(Free Report)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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