Paychex, Inc. $PAYX Stock Holdings Lessened by Capital Advisors Inc. OK

Capital Advisors Inc. OK lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 289,123 shares of the business services provider’s stock after selling 7,600 shares during the period. Capital Advisors Inc. OK’s holdings in Paychex were worth $32,434,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PAYX. Heartwood Wealth Advisors LLC acquired a new position in shares of Paychex in the 3rd quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Paychex during the third quarter valued at $27,000. Stance Capital LLC acquired a new position in shares of Paychex in the 3rd quarter valued at $31,000. MMA Asset Management LLC acquired a new position in shares of Paychex in the 3rd quarter valued at $32,000. Finally, Board of the Pension Protection Fund purchased a new position in Paychex in the 4th quarter worth about $34,000. 83.47% of the stock is owned by institutional investors.

Paychex Trading Down 1.1%

Shares of NASDAQ PAYX opened at $92.06 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.13. Paychex, Inc. has a one year low of $86.89 and a one year high of $161.24. The business has a 50-day moving average price of $95.98 and a two-hundred day moving average price of $110.04. The firm has a market capitalization of $32.99 billion, a PE ratio of 20.28 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex declared that its board has approved a stock repurchase plan on Friday, January 16th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, January 28th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.7%. The ex-dividend date was Wednesday, January 28th. Paychex’s dividend payout ratio is currently 95.15%.

Analysts Set New Price Targets

PAYX has been the topic of several recent analyst reports. BMO Capital Markets cut their price objective on Paychex from $121.00 to $103.00 and set a “market perform” rating on the stock in a report on Friday, March 13th. Wolfe Research dropped their target price on shares of Paychex from $130.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, December 10th. Argus upgraded shares of Paychex to a “strong-buy” rating in a report on Friday, March 27th. Wells Fargo & Company reduced their price target on shares of Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a research report on Thursday, March 26th. Finally, Stephens decreased their price objective on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $114.56.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.