Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by United Community Bank

United Community Bank boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,132 shares of the business services provider’s stock after purchasing an additional 495 shares during the period. Paychex comprises approximately 0.9% of United Community Bank’s holdings, making the stock its 23rd largest position. United Community Bank’s holdings in Paychex were worth $2,262,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Monument Capital Management boosted its holdings in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after buying an additional 72 shares during the period. Mutual Advisors LLC boosted its holdings in Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 73 shares during the period. Emerald Advisors LLC boosted its holdings in Paychex by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 74 shares during the period. Weaver Capital Management LLC boosted its holdings in Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 75 shares during the period. Finally, Adero Partners LLC boosted its holdings in Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 75 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Up 2.4 %

Shares of NASDAQ PAYX opened at $153.48 on Friday. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $154.98. The company has a market cap of $55.26 billion, a PE ratio of 32.31, a P/E/G ratio of 4.10 and a beta of 0.98. 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 of $146.33 and a two-hundred day moving average of $141.54.

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Barclays increased their price target on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. increased their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Finally, UBS Group increased their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $133.23.

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.