Rogco LP Decreases Position in Paychex, Inc. (NASDAQ:PAYX)

Rogco LP lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,395 shares of the business services provider’s stock after selling 158 shares during the period. Rogco LP’s holdings in Paychex were worth $1,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYX. Raymond James & Associates lifted its stake in Paychex by 27.4% in the 3rd quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock valued at $132,636,000 after buying an additional 212,700 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Paychex by 169.9% in the third quarter. Blue Trust Inc. now owns 7,624 shares of the business services provider’s stock valued at $1,023,000 after acquiring an additional 4,799 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Paychex by 2.3% during the third quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock valued at $25,182,000 after acquiring an additional 4,157 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Paychex by 91.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock worth $1,515,000 after purchasing an additional 5,153 shares in the last quarter. Finally, Amalgamated Bank increased its position in Paychex by 6.2% during the 3rd quarter. Amalgamated Bank now owns 70,347 shares of the business services provider’s stock worth $9,440,000 after purchasing an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Down 0.9 %

PAYX stock opened at $147.25 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $53.02 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 4.10 and a beta of 1.00. The business has a fifty day simple moving average of $143.36 and a 200-day simple moving average of $138.91. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts expect that Paychex, Inc. will post 4.99 EPS for the current 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 annualized dividend and a yield of 2.66%. Paychex’s payout ratio is 82.53%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Barclays upped their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, Paychex currently has an average rating of “Hold” and a consensus price target of $132.23.

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.