Baldwin Wealth Partners LLC MA Has $5.64 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Baldwin Wealth Partners LLC MA trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,189 shares of the business services provider’s stock after selling 3,373 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Paychex were worth $5,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA acquired a new position in shares of Paychex during the fourth quarter worth $28,000. Fortitude Family Office LLC increased 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 worth $34,000 after purchasing an additional 74 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Paychex during the third quarter valued at about $36,000. Quarry LP grew its holdings in shares of Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of Paychex in the fourth quarter valued at approximately $42,000. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

NASDAQ:PAYX opened at $147.08 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The company has a fifty day moving average of $142.19 and a 200-day moving average of $136.43. The firm has a market capitalization of $52.96 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.95 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results 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. The firm had revenue of $1.32 billion during 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 business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.67%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Wall Street Analysts Forecast Growth

PAYX has been the topic of a number of research reports. Barclays upped their price target on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Jefferies Financial Group raised their target price on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Finally, TD Cowen upped their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, Paychex presently has a consensus rating of “Hold” and an average target price of $132.23.

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.