Intellectus Partners LLC Acquires New Position in Paychex, Inc. $PAYX

Intellectus Partners LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,505 shares of the business services provider’s stock, valued at approximately $1,066,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Paychex in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC lifted its position in Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. Stance Capital LLC acquired a new position in Paychex in the 3rd quarter worth $31,000. MMA Asset Management LLC acquired a new position in Paychex in the 3rd quarter worth $32,000. Finally, Kingdom Financial Group LLC. bought a new position in Paychex during the 4th quarter worth about $33,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Performance

Shares of PAYX stock opened at $98.45 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day moving average price of $92.85 and a two-hundred day moving average price of $100.51. The company has a market capitalization of $35.27 billion, a P/E ratio of 21.69 and a beta of 0.84. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $161.24.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 EPS. Analysts expect that Paychex, Inc. will post 5.5 earnings per share for the current year.

Paychex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.19 dividend. This is an increase from Paychex’s previous quarterly dividend of $1.08. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s payout ratio is currently 104.85%.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. Stephens dropped their price target on Paychex from $125.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. UBS Group decreased their price objective on Paychex from $98.00 to $94.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Robert W. Baird dropped their target price on Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. Finally, TD Cowen raised shares of Paychex to a “hold” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Paychex currently has an average rating of “Reduce” and an average price target of $106.38.

Paychex Company 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.