Capital International Inc. CA Has $45.79 Million Stock Holdings in Paychex, Inc. $PAYX

Capital International Inc. CA increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 69.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 408,140 shares of the business services provider’s stock after purchasing an additional 166,832 shares during the period. Capital International Inc. CA owned approximately 0.11% of Paychex worth $45,785,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Capital International Investors lifted its position in shares of Paychex by 59.1% during the 4th quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock worth $3,395,583,000 after purchasing an additional 11,243,295 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Paychex during the 4th quarter worth about $172,000. Modus Advisors LLC acquired a new position in shares of Paychex during the 4th quarter worth about $179,000. Longfellow Investment Management Co. LLC lifted its position in shares of Paychex by 12,365.2% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 2,867 shares of the business services provider’s stock worth $322,000 after purchasing an additional 2,844 shares during the last quarter. Finally, 111 Capital lifted its position in shares of Paychex by 174.1% during the 4th quarter. 111 Capital now owns 13,362 shares of the business services provider’s stock worth $1,499,000 after purchasing an additional 8,487 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

NASDAQ:PAYX opened at $100.53 on Friday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $161.24. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $36.02 billion, a PE ratio of 22.14 and a beta of 0.84. The firm has a 50-day moving average price of $93.17 and a 200 day moving average price of $100.42.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $1.49 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts anticipate that Paychex, Inc. will post 5.5 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 4.7%. This is a boost from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s dividend payout ratio (DPR) is currently 104.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYX. UBS Group cut their price objective on shares of Paychex from $98.00 to $94.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Citigroup cut their price objective on shares of Paychex from $120.00 to $99.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Jefferies Financial Group cut their price objective on shares of Paychex from $110.00 to $105.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paychex in a research report on Friday, April 24th. Finally, BMO Capital Markets upped their price objective on shares of Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Paychex presently has a consensus rating of “Reduce” and an average target price of $106.38.

Paychex Company Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.