Tompkins Financial Corp Has $1.75 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Tompkins Financial Corp cut its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,447 shares of the business services provider’s stock after selling 86 shares during the period. Tompkins Financial Corp’s holdings in Paychex were worth $1,745,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PAYX. American Century Companies Inc. boosted its stake in shares of Paychex by 49.4% during the 2nd quarter. American Century Companies Inc. now owns 154,587 shares of the business services provider’s stock worth $18,328,000 after buying an additional 51,085 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Paychex by 5.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,568 shares of the business services provider’s stock valued at $779,000 after purchasing an additional 367 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in Paychex during the second quarter valued at approximately $239,000. Mercer Global Advisors Inc. ADV grew its stake in Paychex by 1.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 52,345 shares of the business services provider’s stock valued at $6,206,000 after purchasing an additional 784 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Paychex by 7.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,112 shares of the business services provider’s stock worth $1,317,000 after purchasing an additional 731 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Citigroup upped their target price on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. UBS Group lifted their price target on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $132.23.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $146.84 on Friday. The firm has a market cap of $52.87 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The business’s 50 day moving average is $142.31 and its 200-day moving average is $134.90. 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 $150.71.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping 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 firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is 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.