Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,875 shares of the business services provider’s stock after selling 123 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Paychex were worth $6,573,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Quarry LP lifted its position in shares of Paychex by 152.6% during the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares in the last quarter. Quest Partners LLC acquired a new stake in Paychex in the 3rd quarter valued at $36,000. Dunhill Financial LLC increased its holdings in Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares in the last quarter. Finally, City Holding Co. acquired a new position in Paychex during the fourth quarter worth $42,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Price Performance

Paychex stock opened at $146.11 on Friday. 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 company has a 50-day moving average price of $142.19 and a 200 day moving average price of $136.16. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. The stock has a market cap of $52.61 billion, a P/E ratio of 30.76, a PEG ratio of 3.95 and a beta of 1.00.

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

Paychex Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. UBS Group boosted their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Morgan Stanley boosted their price target on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen raised their price objective on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $132.23.

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.