Callan Family Office LLC Acquires New Holdings in Paychex, Inc. (NASDAQ:PAYX)

Callan Family Office LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,075 shares of the business services provider’s stock, valued at approximately $992,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Monument Capital Management raised its stake in shares of Paychex by 4.4% during the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 72 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of 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 in the last quarter. Emerald Advisors LLC grew its holdings in Paychex by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after acquiring an additional 74 shares during the period. Weaver Capital Management LLC grew its holdings in Paychex by 3.7% during the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after acquiring an additional 75 shares during the period. Finally, Adero Partners LLC grew its holdings in Paychex by 3.2% during the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock worth $335,000 after acquiring an additional 75 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Up 2.4 %

Shares of PAYX opened at $153.48 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $154.98. The business’s 50-day moving average price is $146.33 and its 200 day moving average price is $141.54. The stock has a market capitalization of $55.26 billion, a P/E ratio of 32.31, a P/E/G ratio of 4.10 and a beta of 0.98.

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

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.55%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. UBS Group lifted their target price on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the stock 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 company. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and an average price target of $133.23.

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.