Integrated Advisors Network LLC Has $632,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Integrated Advisors Network LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 12.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,509 shares of the business services provider’s stock after selling 644 shares during the quarter. Integrated Advisors Network LLC’s holdings in Paychex were worth $632,000 at the end of the most recent quarter.

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

Paychex Stock Performance

Shares of PAYX stock opened at $158.97 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $159.25. The stock’s 50-day moving average is $148.81 and its two-hundred day moving average is $146.39. The firm has a market cap of $57.26 billion, a P/E ratio of 33.47, a PEG ratio of 4.10 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. Analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, May 12th will be issued a dividend of $1.08 per share. This is a positive change from Paychex’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, May 12th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.72%. Paychex’s dividend payout ratio is currently 90.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on PAYX. Cfra Research raised Paychex to a “hold” rating in a research report on Thursday, March 27th. Barclays upped their price target on Paychex from $140.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, March 31st. Stifel Nicolaus upped their price target on Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, March 27th. UBS Group upped their price target on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Paychex in a research report on Friday. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.00.

Insider Activity

In other news, Director Joseph M. Velli sold 3,650 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the transaction, the director now owns 78,455 shares of the company’s stock, valued at approximately $11,709,408.75. This represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 11.40% of the stock is currently owned by insiders.

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.