Princeton Global Asset Management LLC Has $44,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Princeton Global Asset Management LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 58.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 315 shares of the business services provider’s stock after buying an additional 116 shares during the period. Princeton Global Asset Management LLC’s holdings in Paychex were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new position in Paychex during the fourth quarter valued at $28,000. Fortitude Family Office LLC raised its position in Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the period. MilWealth Group LLC acquired a new position in Paychex during the fourth quarter valued at $35,000. Quest Partners LLC acquired a new position in Paychex during the third quarter valued at $36,000. Finally, Quarry LP raised its position in Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $148.62 on Tuesday. The business has a 50 day moving average price of $142.69 and a 200 day moving average price of $137.35. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The company has a market cap of $53.51 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 4.03 and a beta of 1.00. 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 announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.64%. Paychex’s dividend payout ratio (DPR) is 82.53%.

Analysts Set New Price Targets

PAYX has been the topic of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Barclays upped 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. Finally, JPMorgan Chase & Co. upped their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.23.

About Paychex

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.