Atria Wealth Solutions Inc. Has $2.18 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Atria Wealth Solutions Inc. decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,521 shares of the business services provider’s stock after selling 716 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Paychex were worth $2,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYX. International Assets Investment Management LLC grew its position in shares of Paychex by 38,655.2% in the third quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock valued at $107,340,000 after purchasing an additional 797,843 shares during the last quarter. Barclays PLC boosted its stake in shares of Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock valued at $234,627,000 after buying an additional 552,540 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Paychex by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock valued at $1,278,142,000 after buying an additional 345,682 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Paychex by 2,404.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider’s stock valued at $46,391,000 after buying an additional 317,634 shares during the period. Finally, Unigestion Holding SA boosted its stake in shares of Paychex by 2,139.2% in the third quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock valued at $39,667,000 after buying an additional 282,487 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Barclays boosted their price target on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.23.

Paychex Stock Down 1.2 %

NASDAQ PAYX opened at $148.51 on Friday. The business has a fifty day moving average price of $144.11 and a two-hundred day moving average price of $139.70. The stock has a market capitalization of $53.47 billion, a PE ratio of 31.27, a PEG ratio of 4.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $151.72.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The company 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. Equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued 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 dividend yield of 2.64%. Paychex’s dividend payout ratio (DPR) is presently 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.