RDA Financial Network Has $651,000 Position in Paychex, Inc. (NASDAQ:PAYX)

RDA Financial Network lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,641 shares of the business services provider’s stock after acquiring an additional 88 shares during the quarter. RDA Financial Network’s holdings in Paychex were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYX. CVA Family Office LLC increased its position in Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 74 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Paychex by 42.0% in the 3rd 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 during the last quarter. Kanawha Capital Management LLC increased its position in shares of Paychex by 1.8% during the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after buying an additional 75 shares during the period. Baron Wealth Management LLC raised its stake in Paychex by 2.2% during the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after buying an additional 79 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its holdings in Paychex by 0.8% in the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after buying an additional 82 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

Shares of PAYX opened at $146.84 on Friday. The firm has a market capitalization of $52.87 billion, a P/E ratio of 30.91, a P/E/G ratio of 3.80 and a beta of 1.00. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The stock has a 50 day moving average price of $142.31 and a two-hundred day moving average price of $134.90. 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 (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. 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 the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. Paychex’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

Analyst Ratings Changes

PAYX has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price target on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Two 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 a consensus rating of “Hold” and a consensus target price 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.