Daymark Wealth Partners LLC Has $1.24 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Daymark Wealth Partners LLC decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,818 shares of the business services provider’s stock after selling 453 shares during the period. Daymark Wealth Partners LLC’s holdings in Paychex were worth $1,237,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AE Wealth Management LLC boosted its stake in Paychex by 8.4% during the 2nd quarter. AE Wealth Management LLC now owns 6,604 shares of the business services provider’s stock valued at $783,000 after purchasing an additional 513 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Paychex by 1.8% in the second quarter. Sei Investments Co. now owns 112,093 shares of the business services provider’s stock valued at $13,290,000 after purchasing an additional 1,980 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Paychex by 6.7% during the second quarter. 1832 Asset Management L.P. now owns 26,011 shares of the business services provider’s stock valued at $3,084,000 after buying an additional 1,638 shares during the last quarter. Public Sector Pension Investment Board raised its position in Paychex by 75.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,816 shares of the business services provider’s stock valued at $1,401,000 after buying an additional 5,086 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Paychex by 11.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,483 shares of the business services provider’s stock valued at $769,000 after acquiring an additional 650 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Paychex Trading Down 0.6 %

Shares of PAYX opened at $144.77 on Thursday. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $150.71. The business has a 50-day moving average of $142.18 and a 200 day moving average of $135.83. The firm has a market cap of $52.13 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 3.98 and a beta of 1.00. 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 posted its earnings results 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 firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate 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 company earned $1.08 earnings per share. As a group, research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s payout ratio is currently 82.53%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAYX. TD Cowen upped 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. JPMorgan Chase & Co. increased their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their target price on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, Paychex has a consensus rating of “Hold” and an average price target of $132.23.

Paychex 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.