Brooklyn Investment Group Has $419,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Brooklyn Investment Group boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,989 shares of the business services provider’s stock after buying an additional 107 shares during the period. Brooklyn Investment Group’s holdings in Paychex were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of Paychex by 42.0% in the 3rd 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 during the 3rd quarter valued at $36,000. Quarry LP lifted its holdings in shares of Paychex by 152.6% in the second 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 boosted its position in shares of Paychex by 805.9% in 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 period. Finally, HWG Holdings LP purchased a new position in shares of Paychex during the second quarter valued at $63,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of PAYX opened at $146.29 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71. The company’s fifty day moving average price is $142.32 and its 200 day moving average price is $134.98. The company has a market capitalization of $52.67 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00.

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

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.68%. Paychex’s dividend payout ratio is 82.53%.

Analysts Set New Price Targets

PAYX has been the subject of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Stifel Nicolaus increased their price objective on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Citigroup lifted their price objective on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen upped their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. 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 research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.