Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Czech National Bank

Czech National Bank lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,450 shares of the business services provider’s stock after purchasing an additional 4,159 shares during the quarter. Czech National Bank’s holdings in Paychex were worth $9,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its holdings 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 acquiring an additional 74 shares in the last quarter. Fortitude Family Office LLC increased its stake in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares in the last quarter. Kanawha Capital Management LLC raised its holdings in shares of Paychex by 1.8% in the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after buying an additional 75 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Paychex by 2.2% during the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after buying an additional 79 shares during the period. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after buying an additional 82 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PAYX. UBS Group lifted their price target on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their price objective on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $132.23.

Paychex Price Performance

Shares of Paychex stock opened at $140.53 on Tuesday. The firm has a market cap of $50.60 billion, a PE ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $142.36 and a 200 day moving average price of $134.67.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently announced 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 2.79%. Paychex’s dividend payout ratio (DPR) is 82.53%.

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.