Arwa LLC Takes Position in Paychex, Inc. $PAYX

Arwa LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, Holdings Channel.com reports. The firm acquired 10,229 shares of the business services provider’s stock, valued at approximately $1,148,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new position in Paychex in the third quarter valued at about $27,000. Stance Capital LLC purchased a new stake in shares of Paychex during the 3rd quarter worth approximately $31,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex during the 4th quarter worth approximately $31,000. Caitlin John LLC acquired a new stake in shares of Paychex in the 3rd quarter worth approximately $36,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Paychex in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

NASDAQ PAYX opened at $98.24 on Friday. The business’s 50-day moving average price is $94.72 and its 200 day moving average price is $99.64. 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, Inc. has a twelve month low of $85.45 and a twelve month high of $152.57. The company has a market capitalization of $35.20 billion, a PE ratio of 21.64 and a beta of 0.84.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The firm’s revenue was up 19.9% on a year-over-year basis. On average, research analysts predict that Paychex, Inc. will post 5.49 earnings per share for the current year.

Paychex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.19 dividend. The ex-dividend date was Wednesday, May 13th. This is a positive change from Paychex’s previous quarterly dividend of $1.08. This represents a $4.76 dividend on an annualized basis and a yield of 4.8%. Paychex’s payout ratio is presently 104.85%.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Jefferies Financial Group lowered their target price on Paychex from $110.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Guggenheim started coverage on Paychex in a research report on Thursday, March 19th. They issued a “neutral” rating for the company. Stifel Nicolaus lifted their price target on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Citigroup upgraded shares of Paychex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $99.00 to $140.00 in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Paychex presently has a consensus rating of “Hold” and a consensus price target of $108.19.

About Paychex

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.