Nations Financial Group Inc. IA ADV Reduces Stock Holdings in Paychex, Inc. $PAYX

Nations Financial Group Inc. IA ADV reduced its holdings in Paychex, Inc. (NASDAQ:PAYX) by 40.1% during the 4th quarter, Holdings Channel reports. The fund owned 9,575 shares of the business services provider’s stock after selling 6,406 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Paychex were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Paychex in the 3rd quarter valued at $27,000. Stance Capital LLC purchased a new stake in shares of Paychex in the 3rd quarter valued at $31,000. MMA Asset Management LLC purchased a new stake in shares of Paychex in the 3rd quarter valued at $32,000. Board of the Pension Protection Fund purchased a new stake in shares of Paychex in the 4th quarter valued at $34,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of Paychex in the 3rd quarter valued at $35,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

PAYX opened at $91.96 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a fifty day moving average price of $92.76 and a 200 day moving average price of $106.74. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $161.24. The stock has a market cap of $32.95 billion, a P/E ratio of 20.26 and a beta of 0.88.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business posted $1.49 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex declared that its board has initiated a stock repurchase plan on Friday, January 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on PAYX. Citigroup dropped their price objective on shares of Paychex from $120.00 to $99.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Guggenheim began coverage on shares of Paychex in a report on Thursday, March 19th. They issued a “neutral” rating on the stock. Argus raised shares of Paychex to a “strong-buy” rating in a report on Friday, March 27th. Cantor Fitzgerald raised shares of Paychex to a “strong sell” rating in a report on Tuesday, January 27th. Finally, UBS Group dropped their price objective on shares of Paychex from $98.00 to $94.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Reduce” and a consensus price target of $106.38.

Paychex Company Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.