Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. raised its holdings in Paychex, Inc. (NASDAQ:PAYX) by 331.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,187 shares of the business services provider’s stock after acquiring an additional 912 shares during the period. SRS Capital Advisors Inc.’s holdings in Paychex were worth $166,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PAYX. Monument Capital Management increased its holdings in shares of Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 72 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after acquiring an additional 73 shares during the period. Emerald Advisors LLC boosted its position in shares of Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 74 shares during the last quarter. Weaver Capital Management LLC boosted its position in shares of Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 75 shares during the last quarter. Finally, Adero Partners LLC grew its holdings in shares of Paychex by 3.2% in the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 75 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. UBS Group upped their price objective on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. upped their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $133.23.

Paychex Stock Performance

NASDAQ PAYX opened at $152.10 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $54.77 billion, a P/E ratio of 32.02, a P/E/G ratio of 4.10 and a beta of 1.00. The stock has a 50-day moving average of $145.94 and a two-hundred day moving average of $141.17. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $154.98.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. As a group, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio 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.