Whipplewood Advisors LLC Makes New Investment in Paychex, Inc. (NASDAQ:PAYX)

Whipplewood Advisors LLC purchased a new position in Paychex, Inc. (NASDAQ:PAYX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 293 shares of the business services provider’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also modified their holdings of PAYX. Monument Capital Management grew its stake in Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after buying an additional 72 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 73 shares during the period. Emerald Advisors LLC grew its position in shares of Paychex by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after acquiring an additional 74 shares during the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after acquiring an additional 75 shares during the period. Finally, Weaver Capital Management LLC lifted its position in Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 75 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Price Performance

NASDAQ:PAYX opened at $151.67 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $145.23 and its 200 day moving average price is $140.60. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.86. The firm has a market cap of $54.61 billion, a P/E ratio of 31.93, a PEG ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced 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 net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business 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. This represents a $3.92 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, Barclays lifted their target price on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. 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 stock has an average 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.