Perissos Private Wealth Management LLC Sells 212 Shares of Paychex, Inc. (NASDAQ:PAYX)

Perissos Private Wealth Management LLC lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,895 shares of the business services provider’s stock after selling 212 shares during the quarter. Perissos Private Wealth Management LLC’s holdings in Paychex were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PAYX. International Assets Investment Management LLC increased its stake in Paychex by 38,655.2% during the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after acquiring an additional 797,843 shares during the period. Barclays PLC increased its position 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 worth $234,627,000 after purchasing an additional 552,540 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 worth $1,278,142,000 after purchasing an additional 345,682 shares during the period. Assenagon Asset Management S.A. raised its stake in 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 purchasing an additional 317,634 shares in the last quarter. Finally, Unigestion Holding SA lifted its position in Paychex by 2,139.2% during the third quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock worth $39,667,000 after purchasing an additional 282,487 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Down 0.6 %

Shares of PAYX opened at $146.10 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72. The stock has a market capitalization of $52.60 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 4.10 and a beta of 1.00. The stock has a fifty day moving average of $143.06 and a 200-day moving average of $138.42.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

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 is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.68%. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Upgrades and Downgrades

PAYX has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. upped their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $132.23.

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.