Principal Securities Inc. Has $1.87 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Principal Securities Inc. lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,338 shares of the business services provider’s stock after purchasing an additional 459 shares during the period. Principal Securities Inc.’s holdings in Paychex were worth $1,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYX. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the 4th quarter valued at $28,000. Avion Wealth raised its position in shares of Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares during the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex during the 4th quarter worth about $35,000. Finally, Asset Planning Inc acquired a new position in Paychex in the 4th quarter valued at about $36,000. 83.47% of the stock is owned by institutional investors.

Paychex Trading Up 0.8 %

Shares of Paychex stock opened at $148.40 on Wednesday. The firm’s 50-day moving average price is $143.49 and its two-hundred day moving average price is $139.13. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $53.43 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently disclosed 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 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 is currently 82.53%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PAYX shares. Barclays raised their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, Paychex has a consensus 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.