Avidian Wealth Enterprises LLC Has $888,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Avidian Wealth Enterprises LLC lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,330 shares of the business services provider’s stock after acquiring an additional 174 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Paychex were worth $888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Paychex in the fourth quarter worth $28,000. Fortitude Family Office LLC lifted its position in Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after purchasing an additional 74 shares during the period. MilWealth Group LLC bought a new position in Paychex in the fourth quarter worth $35,000. Quest Partners LLC bought a new position in Paychex in the third quarter worth $36,000. Finally, City Holding Co. bought a new position in Paychex in the fourth quarter worth $42,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 0.6 %

Shares of NASDAQ PAYX opened at $146.95 on Thursday. The stock has a market cap of $52.91 billion, a PE ratio of 30.94, a PEG ratio of 4.10 and a beta of 1.00. The business has a fifty day moving average of $143.09 and a two-hundred day moving average of $138.56. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.72. 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 (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business 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 posted $1.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.67%. Paychex’s dividend payout ratio is 82.53%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Finally, Barclays raised their target price on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, the company currently has an average 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.