1,014 Shares in Paychex, Inc. (NASDAQ:PAYX) Acquired by Centricity Wealth Management LLC

Centricity Wealth Management LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,014 shares of the business services provider’s stock, valued at approximately $142,000.

A number of other institutional investors have also recently made changes to their positions in PAYX. Union Bancaire Privee UBP SA purchased a new position in Paychex during the 4th quarter valued at about $28,000. Avion Wealth grew its position in shares of Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Paychex by 42.0% during 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 during the period. MilWealth Group LLC bought a new position in shares of Paychex during the fourth quarter valued at approximately $35,000. Finally, Asset Planning Inc purchased a new stake in Paychex in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

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

Paychex Stock Up 0.1 %

Paychex stock opened at $150.26 on Friday. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $151.72. The stock has a fifty day simple moving average of $143.96 and a two-hundred day simple moving average of $139.43. 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 firm has a market cap of $54.10 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The business 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%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 EPS. Equities analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced 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. This represents a $3.92 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

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.