Borer Denton & Associates Inc. Grows Stake in Paychex, Inc. (NASDAQ:PAYX)

Borer Denton & Associates Inc. lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,596 shares of the business services provider’s stock after purchasing an additional 1,115 shares during the quarter. Paychex comprises approximately 1.2% of Borer Denton & Associates Inc.’s portfolio, making the stock its 23rd largest holding. Borer Denton & Associates Inc.’s holdings in Paychex were worth $3,589,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in Paychex in the fourth quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex in the fourth quarter worth $33,000. Avion Wealth boosted its holdings in shares of Paychex by 469.8% during the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after purchasing an additional 202 shares during the period. MilWealth Group LLC bought a new stake in shares of Paychex in the fourth quarter worth about $35,000. Finally, Asset Planning Inc purchased a new position in Paychex during the 4th quarter valued at about $36,000. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

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

Paychex Announces Dividend

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

Analysts Set New Price Targets

PAYX has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays raised 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. Finally, UBS Group increased their target price on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.