RDA Financial Network Purchases 88 Shares of Paychex, Inc. (NASDAQ:PAYX)

RDA Financial Network lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,641 shares of the business services provider’s stock after purchasing an additional 88 shares during the period. RDA Financial Network’s holdings in Paychex were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares in the last quarter. Quarry LP boosted its position in shares of Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 177 shares during the period. Quest Partners LLC acquired a new position in shares of Paychex in the third quarter valued at about $36,000. Dunhill Financial LLC increased its position in Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares during the period. Finally, HWG Holdings LP acquired a new stake in Paychex in the 2nd quarter worth about $63,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. Barclays raised 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 raised their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Citigroup upped their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus upped their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, Paychex has an average rating of “Hold” and an average price target of $132.23.

Paychex Trading Up 1.8 %

Shares of Paychex stock opened at $146.84 on Friday. The firm’s 50 day moving average is $142.31 and its 200 day moving average is $134.90. The firm has a market capitalization of $52.87 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $150.71. 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 (NASDAQ:PAYX) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.08 EPS. Paychex’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.67%. Paychex’s dividend payout ratio is presently 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.