Tyche Wealth Partners LLC Has $637,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Tyche Wealth Partners LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 38.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,541 shares of the business services provider’s stock after acquiring an additional 1,264 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Paychex were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mutual Advisors LLC increased its holdings in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after buying an additional 73 shares during the last quarter. CVA Family Office LLC boosted its position in shares of 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 purchasing an additional 74 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Paychex by 42.0% in the third 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 last quarter. Kanawha Capital Management LLC boosted its position in shares of Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after buying an additional 75 shares during the last quarter. Finally, Weaver Capital Management LLC boosted its stake in shares of 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 buying an additional 75 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Up 0.9 %

Shares of NASDAQ PAYX opened at $150.87 on Thursday. The stock has a market cap of $54.32 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.00. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.01. The business has a 50-day moving average price of $142.83 and a 200 day moving average price of $137.71. 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 issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. Equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently disclosed 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 2.60%. Paychex’s payout ratio is 82.53%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PAYX shares. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Barclays lifted 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, Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two equities research 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, the stock presently has an average rating of “Hold” and an average price target of $132.23.

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.