Paychex, Inc. (NASDAQ:PAYX) Stake Boosted by Monument Capital Management

Monument Capital Management increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,714 shares of the business services provider’s stock after purchasing an additional 72 shares during the quarter. Monument Capital Management’s holdings in Paychex were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the 4th quarter worth about $28,000. Fortitude Family Office LLC boosted its position in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. Avion Wealth boosted its position in Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after acquiring an additional 202 shares during the period. MilWealth Group LLC acquired a new stake in Paychex during the 4th quarter worth about $35,000. Finally, Quest Partners LLC acquired a new stake in Paychex during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Finally, Barclays lifted their price target on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, Paychex has a consensus rating of “Hold” and an average price target of $132.23.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $147.25 on Tuesday. 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 business’s 50 day moving average is $143.36 and its two-hundred day moving average is $138.99. The company has a market cap of $53.02 billion, a P/E ratio of 31.00, a P/E/G 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.

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

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

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.