Glenview Trust co Trims Position in Paychex, Inc. (NASDAQ:PAYX)

Glenview Trust co lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,872 shares of the business services provider’s stock after selling 361 shares during the quarter. Glenview Trust co’s holdings in Paychex were worth $2,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in shares of Paychex by 13.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,435 shares of the business services provider’s stock valued at $998,000 after buying an additional 867 shares during the period. Natixis Advisors LLC lifted its stake in shares of Paychex by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 99,970 shares of the business services provider’s stock valued at $13,415,000 after purchasing an additional 1,424 shares during the last quarter. Veery Capital LLC purchased a new position in shares of Paychex during the 3rd quarter worth $207,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Paychex in the 3rd quarter valued at about $465,000. Finally, Adero Partners LLC lifted its position in Paychex by 3.7% in the third quarter. Adero Partners LLC now owns 2,316 shares of the business services provider’s stock valued at $311,000 after buying an additional 82 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Paychex Stock Performance

Shares of PAYX opened at $145.44 on Monday. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $158.37. The stock has a market capitalization of $52.37 billion, a PE ratio of 30.62, a PEG ratio of 4.10 and a beta of 0.98. 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 50-day simple moving average of $147.06 and a 200-day simple moving average of $142.26.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is 82.53%.

Paychex Company 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.