QRG Capital Management Inc. Has $8.74 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

QRG Capital Management Inc. grew its position in Paychex, Inc. (NASDAQ:PAYX) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,292 shares of the business services provider’s stock after buying an additional 398 shares during the period. QRG Capital Management Inc.’s holdings in Paychex were worth $8,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAYX. Proficio Capital Partners LLC lifted its holdings in Paychex by 30,382.8% in the fourth quarter. Proficio Capital Partners LLC now owns 568,809 shares of the business services provider’s stock valued at $79,758,000 after buying an additional 566,943 shares during the period. Kovack Advisors Inc. acquired a new position in shares of Paychex in the 4th quarter valued at $221,000. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Paychex by 4.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 129,180 shares of the business services provider’s stock valued at $18,114,000 after purchasing an additional 5,000 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Paychex during the fourth quarter worth $41,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Paychex during the fourth quarter worth $357,000. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of Paychex stock opened at $148.76 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 firm has a market cap of $53.56 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00. The stock’s 50-day moving average is $144.99 and its 200-day moving average is $140.30. Paychex, Inc. has a one year low of $114.72 and a one year high of $151.86.

Paychex (NASDAQ:PAYX) last posted 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. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. Equities analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.64%. Paychex’s dividend payout ratio is 82.53%.

Wall Street Analyst Weigh In

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