Investment House LLC Raises Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Investment House LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,766 shares of the business services provider’s stock after purchasing an additional 109 shares during the period. Paychex accounts for 1.4% of Investment House LLC’s portfolio, making the stock its 16th biggest position. Investment House LLC’s holdings in Paychex were worth $19,863,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Choreo LLC bought a new position in Paychex in the fourth quarter valued at about $435,000. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Paychex by 6.6% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,438 shares of the business services provider’s stock valued at $767,000 after buying an additional 400 shares in the last quarter. Capital Investment Counsel Inc grew its holdings in Paychex by 7.6% during the 4th quarter. Capital Investment Counsel Inc now owns 28,308 shares of the business services provider’s stock valued at $3,372,000 after buying an additional 2,005 shares in the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of Paychex by 1,155.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,303 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 3,040 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its stake in shares of Paychex by 13.0% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,495 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 288 shares during the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYX has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 price target on shares of Paychex in a research note on Wednesday, April 3rd. TD Cowen cut their price target on Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of Paychex in a research note on Wednesday, April 3rd. Evercore ISI reiterated an “in-line” rating and set a $118.00 price target on shares of Paychex in a research note on Tuesday, March 26th. Finally, Bank of America increased their price objective on Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus price target of $123.00.

Paychex Trading Up 0.5 %

PAYX stock traded up $0.57 during midday trading on Monday, hitting $120.54. 567,861 shares of the company’s stock were exchanged, compared to its average volume of 1,800,477. The business has a 50-day simple moving average of $121.94 and a two-hundred day simple moving average of $120.39. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $43.39 billion, a PE ratio of 26.14, a P/E/G ratio of 3.38 and a beta of 0.93. Paychex, Inc. has a 1-year low of $104.09 and a 1-year high of $129.70.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a return on equity of 46.14% and a net margin of 31.86%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. On average, sell-side analysts predict that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex declared that its board has approved a stock repurchase program on Friday, January 19th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Paychex Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.