LPL Financial LLC Has $111.60 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

LPL Financial LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 795,866 shares of the business services provider’s stock after buying an additional 66,633 shares during the period. LPL Financial LLC’s holdings in Paychex were worth $111,596,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new position in Paychex during the fourth quarter worth about $28,000. Millstone Evans Group LLC bought a new position in Paychex in the 4th quarter valued at approximately $33,000. Avion Wealth boosted its position in Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex during the fourth quarter worth $35,000. Finally, Quest Partners LLC acquired a new position in shares of Paychex during the third quarter worth $36,000. 83.47% of the stock is owned by institutional investors.

Paychex Price Performance

Paychex stock opened at $144.13 on Wednesday. The stock’s 50 day moving average price is $147.91 and its two-hundred day moving average price is $142.99. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 4.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $158.37.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is 82.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays boosted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $133.23.

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.