MUFG Securities EMEA plc Raises Stock Position in Paychex, Inc. $PAYX

MUFG Securities EMEA plc grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 114.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,307 shares of the business services provider’s stock after buying an additional 7,101 shares during the period. MUFG Securities EMEA plc’s holdings in Paychex were worth $1,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Paychex in the 3rd quarter worth $27,000. Stance Capital LLC purchased a new position in shares of Paychex during the 3rd quarter worth about $31,000. MMA Asset Management LLC purchased a new position in shares of Paychex during the 3rd quarter worth about $32,000. Caitlin John LLC purchased a new position in shares of Paychex during the 3rd quarter worth about $36,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Paychex during the 3rd quarter worth about $37,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PAYX shares. Citigroup dropped their price target on shares of Paychex from $120.00 to $99.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Robert W. Baird dropped their price target on shares of Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company dropped their price target on shares of Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a research note on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Paychex has an average rating of “Reduce” and an average target price of $106.38.

Paychex Price Performance

Shares of PAYX stock opened at $100.79 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $36.11 billion, a P/E ratio of 22.20 and a beta of 0.84. The company’s 50-day simple moving average is $92.59 and its two-hundred day simple moving average is $100.68. Paychex, Inc. has a one year low of $85.45 and a one year high of $161.24.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business 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 for the quarter 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. As a group, equities analysts anticipate that Paychex, Inc. will post 5.5 EPS for the current year.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.7%. The ex-dividend date was Wednesday, May 13th. This is an increase from Paychex’s previous quarterly dividend of $1.08. Paychex’s dividend payout ratio (DPR) is 104.85%.

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.