Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,378 shares of the business services provider’s stock after selling 1,098 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paychex were worth $5,381,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PAYX. Pure Financial Advisors LLC raised its position in Paychex by 3.9% during the third quarter. Pure Financial Advisors LLC now owns 3,005 shares of the business services provider’s stock valued at $403,000 after acquiring an additional 113 shares in the last quarter. Van ECK Associates Corp raised its position in Paychex by 10.5% during the third quarter. Van ECK Associates Corp now owns 86,638 shares of the business services provider’s stock valued at $12,253,000 after acquiring an additional 8,208 shares in the last quarter. BSW Wealth Partners purchased a new position in Paychex during the third quarter valued at approximately $203,000. Kanawha Capital Management LLC raised its position in Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after acquiring an additional 75 shares in the last quarter. Finally, Donaldson Capital Management LLC raised its position in Paychex by 1.2% during the third quarter. Donaldson Capital Management LLC now owns 417,276 shares of the business services provider’s stock valued at $55,994,000 after acquiring an additional 5,078 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAYX. Barclays lifted their price target on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. boosted their price objective on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Paychex has an average rating of “Hold” and an average target price of $132.23.

Paychex Stock Up 1.1 %

Shares of PAYX opened at $153.37 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a one year low of $114.72 and a one year high of $154.48. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 4.10 and a beta of 1.00. The stock has a 50 day moving average price of $145.51 and a 200 day moving average price of $140.91.

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

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

About Paychex

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.