Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,810 shares of the business services provider’s stock after selling 109 shares during the period. Heritage Wealth Advisors’ holdings in Paychex were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Paychex during the fourth quarter valued at about $28,000. Millstone Evans Group LLC purchased a new position in Paychex in the fourth quarter valued at about $33,000. Avion Wealth grew its stake in Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. MilWealth Group LLC purchased a new stake in Paychex during the 4th quarter worth approximately $35,000. Finally, Quest Partners LLC acquired a new position in shares of Paychex in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Down 0.5 %

Shares of Paychex stock opened at $144.13 on Wednesday. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $147.91 and its 200-day simple moving average is $142.99.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s payout ratio is 82.53%.

Analyst Ratings Changes

A number of analysts recently issued reports on PAYX shares. UBS Group lifted their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. 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, the stock has an average rating of “Hold” and a consensus target price of $133.23.

Paychex 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.