TD Asset Management Inc. Reduces Position in Paychex, Inc. (NASDAQ:PAYX)

TD Asset Management Inc. lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,974,289 shares of the business services provider’s stock after selling 149,845 shares during the period. TD Asset Management Inc. owned about 0.55% of Paychex worth $276,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Union Bancaire Privee UBP SA acquired a new position in shares of Paychex in the 4th quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Paychex in the fourth quarter worth $33,000. Avion Wealth raised its holdings in Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. MilWealth Group LLC bought a new position in Paychex during the 4th quarter valued at $35,000. Finally, Quest Partners LLC acquired a new position in Paychex during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX opened at $144.83 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $52.15 billion, a P/E ratio of 30.49, a PEG ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $158.37. The stock has a fifty day moving average price of $147.86 and a 200 day moving average price of $142.89.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were issued a $0.98 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.71%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAYX. UBS Group upped their target price 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. 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.23.

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.