Callan Family Office LLC Takes $992,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Callan Family Office LLC purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,075 shares of the business services provider’s stock, valued at approximately $992,000.

Several other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Paychex by 0.5% during the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock valued at $1,775,365,000 after buying an additional 60,455 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paychex by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock valued at $1,408,458,000 after buying an additional 519,761 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paychex by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock valued at $1,262,700,000 after buying an additional 190,937 shares during the last quarter. Barclays PLC lifted its holdings in shares of Paychex by 46.2% during the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after buying an additional 552,540 shares during the last quarter. Finally, Guinness Asset Management LTD lifted its holdings in Paychex by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock worth $231,295,000 after purchasing an additional 82,091 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PAYX shares. JPMorgan Chase & Co. boosted their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays boosted their target price on 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 boosted their target price on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, Paychex presently has an average rating of “Hold” and an average price target of $133.23.

Paychex Stock Performance

PAYX opened at $153.48 on Friday. The stock has a market cap of $55.26 billion, a PE ratio of 32.31, a P/E/G ratio of 4.10 and a beta of 0.98. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $154.98. The stock’s 50 day simple moving average is $146.33 and its 200-day simple moving average is $141.54.

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

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders 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 2.55%. The ex-dividend date was Friday, February 7th. 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.