Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Decreased by Meritage Portfolio Management

Meritage Portfolio Management decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,424 shares of the business services provider’s stock after selling 1,231 shares during the period. Meritage Portfolio Management’s holdings in Paychex were worth $2,443,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the 4th quarter worth about $28,000. Fortitude Family Office LLC lifted its holdings in shares of Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares in the last quarter. MilWealth Group LLC acquired a new stake in shares of Paychex in the fourth quarter worth $35,000. Quest Partners LLC acquired a new stake in Paychex during the 3rd quarter worth about $36,000. Finally, Dunhill Financial LLC increased its holdings in shares of Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 274 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Trading Up 0.9 %

NASDAQ:PAYX opened at $150.87 on Thursday. The company’s 50 day moving average is $142.83 and its 200-day moving average is $137.71. 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 12 month low of $114.72 and a 12 month high of $151.01. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 4.03 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. Equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PAYX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Finally, Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.