Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 63,888 shares of the business services provider’s stock after selling 595 shares during the period. Kingsview Wealth Management LLC’s holdings in Paychex were worth $8,958,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC lifted its stake in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 73 shares during the last quarter. CVA Family Office LLC lifted its stake in Paychex by 5.6% during the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after buying an additional 74 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of 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 acquiring an additional 74 shares during the period. Kanawha Capital Management LLC lifted its position in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after acquiring an additional 75 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its stake in Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after purchasing an additional 75 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Down 2.2 %

Shares of NASDAQ PAYX opened at $146.74 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $52.84 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The firm’s 50-day simple moving average is $143.01 and its 200 day simple moving average is $137.89.

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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. On average, research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.67%. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays upped their price target on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.