Epoch Investment Partners Inc. Lowers Stock Holdings in Paychex, Inc. $PAYX

Epoch Investment Partners Inc. trimmed its stake in Paychex, Inc. (NASDAQ:PAYX) by 44.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 386,679 shares of the business services provider’s stock after selling 308,668 shares during the period. Epoch Investment Partners Inc.’s holdings in Paychex were worth $43,378,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAYX. Vermillion & White Wealth Management Group LLC purchased a new stake in Paychex in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC boosted its position in Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after buying an additional 268 shares during the period. Stance Capital LLC purchased a new stake in shares of Paychex in the 3rd quarter worth approximately $31,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex in the 4th quarter worth approximately $31,000. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of Paychex in the 4th quarter worth approximately $33,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PAYX. Citigroup raised shares of Paychex from a “neutral” rating to a “buy” rating in a research report on Monday. Argus raised shares of Paychex to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paychex in a research report on Friday, April 24th. Robert W. Baird lowered their price target on shares of Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, Stephens lowered their price target on shares of Paychex from $125.00 to $105.00 and set an “equal weight” rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $106.63.

Paychex Stock Performance

NASDAQ PAYX opened at $100.63 on Monday. The company has a fifty day simple moving average of $93.95 and a two-hundred day simple moving average of $100.01. The stock has a market cap of $36.05 billion, a P/E ratio of 22.17 and a beta of 0.84. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $154.90. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.13.

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 analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. On average, analysts forecast that Paychex, Inc. will post 5.5 earnings per share for the current year.

Paychex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.19 dividend. This is an increase from Paychex’s previous quarterly dividend of $1.08. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s dividend payout ratio is 104.85%.

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.