Livforsakringsbolaget Skandia Omsesidigt Has $341,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Livforsakringsbolaget Skandia Omsesidigt cut its position in Paychex, Inc. (NASDAQ:PAYX) by 39.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,430 shares of the business services provider’s stock after selling 1,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Paychex were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Paychex in the fourth quarter valued at about $28,000. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% during 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 period. MilWealth Group LLC acquired a new stake in Paychex in the 4th quarter valued at approximately $35,000. Quest Partners LLC bought a new position in Paychex in the 3rd quarter worth approximately $36,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after buying an additional 274 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 2.2 %

Shares of PAYX opened at $146.74 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market cap of $52.84 billion, a PE ratio of 30.89, a PEG ratio of 4.03 and a beta of 1.00. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $151.72. The stock has a 50 day simple moving average of $143.01 and a 200-day simple moving average of $137.89.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data 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 firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid 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 yield of 2.67%. Paychex’s dividend payout ratio is 82.53%.

Analyst Upgrades and Downgrades

PAYX has been the topic of a number of research reports. Barclays boosted their target price 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 set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.23.

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.