Koshinski Asset Management Inc. Increases Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Koshinski Asset Management Inc. boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,002 shares of the business services provider’s stock after buying an additional 285 shares during the period. Koshinski Asset Management Inc.’s holdings in Paychex were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of Paychex by 42.0% in the third 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 in the last quarter. Quest Partners LLC bought a new position in Paychex in the 3rd quarter worth about $36,000. Quarry LP grew its holdings in Paychex by 152.6% during the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares in the last quarter. City Holding Co. purchased a new stake in shares of Paychex in the fourth quarter worth about $42,000. Finally, Dunhill Financial LLC boosted its position in shares of Paychex by 805.9% in the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 274 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.4 %

PAYX stock opened at $145.66 on Wednesday. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71. The company has a market capitalization of $52.45 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 4.00 and a beta of 1.00. The company’s 50 day moving average price is $142.23 and its two-hundred day moving average price is $135.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.69%. Paychex’s payout ratio is 82.53%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Cowen increased their target price on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Barclays boosted their target price on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.