Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 129,180 shares of the business services provider’s stock after buying an additional 5,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Paychex were worth $18,114,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA purchased a new stake in Paychex during the fourth quarter valued at about $28,000. Fortitude Family Office LLC raised its holdings in shares of Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares during the period. Avion Wealth lifted its position in shares of Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. MilWealth Group LLC acquired a new position in Paychex in the 4th quarter worth approximately $35,000. Finally, Quest Partners LLC purchased a new position in Paychex during the 3rd quarter worth approximately $36,000. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYX has been the subject of a number of research analyst reports. Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. increased their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price 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 assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.23.

Paychex Stock Performance

PAYX stock opened at $148.76 on Friday. The company has a market capitalization of $53.56 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 4.10 and a beta of 1.00. The firm has a 50 day moving average of $144.99 and a two-hundred day moving average of $140.30. 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, Inc. has a 12 month low of $114.72 and a 12 month high of $151.86.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is 82.53%.

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.