Bryn Mawr Capital Management LLC Acquires New Shares in Paychex, Inc. (NASDAQ:PAYX)

Bryn Mawr Capital Management LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,000 shares of the business services provider’s stock, valued at approximately $982,000.

A number of other institutional investors have also added to or reduced their stakes in PAYX. Allspring Global Investments Holdings LLC raised its stake in Paychex by 42.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 32,317 shares of the business services provider’s stock worth $4,337,000 after buying an additional 9,681 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Paychex by 27.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 29,006 shares of the business services provider’s stock valued at $3,892,000 after acquiring an additional 6,186 shares during the period. Eastern Bank raised its position in shares of Paychex by 14.0% in the 3rd quarter. Eastern Bank now owns 3,775 shares of the business services provider’s stock worth $507,000 after acquiring an additional 464 shares in the last quarter. Weaver Capital Management LLC lifted its stake in shares of Paychex by 6.3% during the 3rd quarter. Weaver Capital Management LLC now owns 2,046 shares of the business services provider’s stock worth $275,000 after purchasing an additional 121 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Paychex by 46.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 10,815 shares of the business services provider’s stock valued at $1,452,000 after purchasing an additional 3,453 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

NASDAQ PAYX opened at $150.26 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s fifty day moving average price is $143.96 and its 200 day moving average price is $139.43. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $151.72. The company has a market cap of $54.10 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 4.05 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm 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. This represents a $3.92 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s payout ratio is 82.53%.

Wall Street Analyst Weigh In

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