Mattern Wealth Management LLC Lowers Position in Paychex, Inc. (NASDAQ:PAYX)

Mattern Wealth Management LLC reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,888 shares of the business services provider’s stock after selling 114 shares during the period. Mattern Wealth Management LLC’s holdings in Paychex were worth $405,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Union Bancaire Privee UBP SA acquired a new position in shares of Paychex in the 4th quarter worth approximately $28,000. Fortitude Family Office LLC grew its stake in shares of 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 buying an additional 74 shares in the last quarter. Quarry LP raised its holdings in shares of Paychex by 152.6% in 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 during the period. Quest Partners LLC acquired a new position in Paychex during the 3rd quarter worth about $36,000. Finally, Dunhill Financial LLC boosted its holdings in Paychex by 805.9% during the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

PAYX has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price target on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group increased their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $132.23.

Paychex Stock Up 1.3 %

PAYX opened at $148.04 on Tuesday. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $53.30 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00. The business’s 50-day simple moving average is $142.19 and its 200-day simple moving average is $136.43.

Paychex (NASDAQ:PAYX) last issued 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 company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. Analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is 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.