Signal Advisors Wealth LLC Buys 95 Shares of Paychex, Inc. (NASDAQ:PAYX)

Signal Advisors Wealth LLC boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,471 shares of the business services provider’s stock after buying an additional 95 shares during the period. Signal Advisors Wealth LLC’s holdings in Paychex were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PAYX. Fortitude Family Office LLC increased 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 in the last quarter. Quest Partners LLC acquired a new stake in Paychex in the 3rd quarter valued at $36,000. Quarry LP increased its stake 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 purchasing an additional 177 shares in the last quarter. Dunhill Financial LLC raised its holdings in Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after buying an additional 274 shares during the last quarter. Finally, HWG Holdings LP bought a new position in shares of Paychex in the second quarter valued at $63,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PAYX. JPMorgan Chase & Co. boosted 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. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. UBS Group increased their target price on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Price Performance

Paychex stock opened at $141.71 on Wednesday. The business’s 50 day simple moving average is $142.40 and its 200 day simple moving average is $134.84. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $150.71. The company has a market cap of $51.02 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 3.88 and a beta of 1.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Sell-side analysts forecast that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. Paychex’s dividend payout ratio is presently 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.