Berkshire Asset Management LLC PA Has $480,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Berkshire Asset Management LLC PA lowered its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,282 shares of the business services provider’s stock after selling 181 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Paychex were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA acquired a new position in Paychex during the 4th quarter worth approximately $28,000. Avion Wealth increased 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 valued at $34,000 after acquiring an additional 202 shares in the last quarter. MilWealth Group LLC acquired a new position in shares of Paychex during the fourth quarter worth approximately $35,000. Quest Partners LLC bought a new position in shares of Paychex in the 3rd quarter worth $36,000. Finally, Asset Planning Inc acquired a new stake in Paychex in the 4th quarter valued at $36,000. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Up 2.4 %

NASDAQ PAYX opened at $153.48 on Friday. Paychex, Inc. has a one year low of $114.72 and a one year high of $154.98. The business’s fifty day moving average is $146.33 and its 200-day moving average is $141.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $55.26 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 4.10 and a beta of 0.98.

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

Paychex Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on PAYX. JPMorgan Chase & Co. upped their price objective on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Barclays upped their target price 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. UBS Group lifted their price target on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.