Paychex, Inc. (NASDAQ:PAYX) Shares Sold by NBT Bank N A NY

NBT Bank N A NY lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,364 shares of the business services provider’s stock after selling 175 shares during the quarter. NBT Bank N A NY’s holdings in Paychex were worth $2,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PAYX. Union Bancaire Privee UBP SA acquired a new stake in shares of Paychex in the 4th quarter worth approximately $28,000. Avion Wealth grew its holdings in shares of Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after acquiring an additional 202 shares during the period. MilWealth Group LLC acquired a new stake in shares of Paychex in the 4th quarter worth approximately $35,000. Quest Partners LLC acquired a new stake in shares of Paychex in the 3rd quarter worth approximately $36,000. Finally, Asset Planning Inc acquired a new stake in shares of Paychex in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 0.7 %

Shares of Paychex stock opened at $154.52 on Tuesday. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $158.37. The firm has a market cap of $55.64 billion, a PE ratio of 32.53, a P/E/G ratio of 4.10 and a beta of 0.98. The business’s fifty day moving average is $146.62 and its two-hundred day moving average is $141.83. 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 (NASDAQ:PAYX) last issued its quarterly 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. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of analyst reports. Barclays increased their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. increased their target price on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Finally, UBS Group increased their target price on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $133.23.

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.