North Dallas Bank & Trust Co. Purchases Shares of 5,865 Paychex, Inc. $PAYX

North Dallas Bank & Trust Co. purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,865 shares of the business services provider’s stock, valued at approximately $658,000.

Other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new position in Paychex during the third quarter valued at approximately $27,000. Stance Capital LLC purchased a new position in Paychex during the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC purchased a new position in Paychex during the fourth quarter valued at approximately $31,000. Caitlin John LLC purchased a new position in Paychex during the third quarter valued at approximately $36,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Paychex during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PAYX. Morgan Stanley lowered their price target on shares of Paychex from $123.00 to $107.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. Robert W. Baird lowered their price target on shares of Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Guggenheim began coverage on shares of Paychex in a report on Thursday, March 19th. They set a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paychex in a report on Friday, April 24th. Finally, BMO Capital Markets boosted their target price on shares of Paychex to $52.00 and gave the stock an “outperform” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $106.63.

Paychex Price Performance

PAYX stock opened at $100.28 on Wednesday. Paychex, Inc. has a one year low of $85.45 and a one year high of $157.51. The company’s fifty day moving average price is $93.45 and its 200-day moving average price is $100.21. 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 company has a market capitalization of $35.93 billion, a PE ratio of 22.09 and a beta of 0.84.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts anticipate that Paychex, Inc. will post 5.5 EPS for the current fiscal 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 issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.7%. This is a boost from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s payout ratio is presently 104.85%.

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.