LVW Advisors LLC Sells 310 Shares of Paychex, Inc. (NASDAQ:PAYX)

LVW Advisors LLC trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,874 shares of the business services provider’s stock after selling 310 shares during the period. LVW Advisors LLC’s holdings in Paychex were worth $2,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Quarry LP boosted its position in shares of Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 177 shares during the period. Quest Partners LLC bought a new stake in shares of Paychex in the third quarter valued at approximately $36,000. Dunhill Financial LLC increased its position in Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares during the period. Finally, City Holding Co. acquired a new position in Paychex during the 4th quarter valued at $42,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Trading Down 0.4 %

Shares of Paychex stock opened at $146.29 on Monday. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. The stock has a market capitalization of $52.67 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The company has a 50-day simple moving average of $142.27 and a 200 day simple moving average of $135.31. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. Research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Ratings Changes

Several research firms have issued reports on PAYX. Stifel Nicolaus raised their price target on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. UBS Group upped their price target on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their target price on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $132.23.

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.