Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its holdings in Paychex, Inc. (NASDAQ:PAYX) by 13.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 38,729 shares of the business services provider’s stock after acquiring an additional 4,543 shares during the period. Arkadios Wealth Advisors’ holdings in Paychex were worth $5,431,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PAYX. CVA Family Office LLC grew its position in shares of Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 74 shares during the period. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares during the last quarter. Kanawha Capital Management LLC grew its holdings in Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after buying an additional 75 shares during the period. Baron Wealth Management LLC increased its stake in shares of Paychex by 2.2% during the 3rd quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 79 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its holdings in shares of Paychex by 0.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.4 %

PAYX opened at $146.29 on Friday. The firm’s 50 day moving average is $142.32 and its 200-day moving average is $134.98. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $52.67 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. Analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Ratings Changes

PAYX has been the subject of several research analyst reports. UBS Group upped their price target on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lifted their price objective on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.23.

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.