Frank Rimerman Advisors LLC Has $2.02 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Frank Rimerman Advisors LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,373 shares of the business services provider’s stock after purchasing an additional 376 shares during the period. Frank Rimerman Advisors LLC’s holdings in Paychex were worth $2,015,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the fourth quarter worth about $28,000. Avion Wealth lifted its holdings in shares of Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. MilWealth Group LLC bought a new position in shares of Paychex in the fourth quarter worth about $35,000. Quest Partners LLC bought a new position in shares of Paychex in the third quarter worth about $36,000. Finally, Asset Planning Inc bought a new position in shares of Paychex in the fourth quarter worth about $36,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. UBS Group increased their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Barclays increased 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, Paychex has an average rating of “Hold” and a consensus price target of $133.23.

Paychex Stock Up 1.3 %

Shares of NASDAQ PAYX opened at $145.44 on Friday. The company has a market capitalization of $52.37 billion, a P/E ratio of 30.62, a price-to-earnings-growth 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. 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 company’s 50 day moving average price is $147.06 and its 200-day moving average price is $142.09.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 32.02% and a return on equity of 45.28%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS. Equities analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.70%. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

Paychex 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.