Naples Global Advisors LLC Has $8.13 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Naples Global Advisors LLC trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,965 shares of the business services provider’s stock after selling 315 shares during the period. Paychex makes up 0.8% of Naples Global Advisors LLC’s portfolio, making the stock its 28th biggest holding. Naples Global Advisors LLC’s holdings in Paychex were worth $8,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Union Bancaire Privee UBP SA bought a new position in Paychex during the fourth quarter worth $28,000. Fortitude Family Office LLC grew its position in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after purchasing an additional 74 shares during the last quarter. Avion Wealth increased its holdings in shares of Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after purchasing an additional 202 shares during the period. MilWealth Group LLC acquired a new position in shares of Paychex during the fourth quarter valued at about $35,000. Finally, Quest Partners LLC bought a new stake in shares of Paychex in the third quarter valued at about $36,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Trading Up 0.6 %

Shares of PAYX opened at $146.95 on Thursday. The stock has a fifty day moving average price of $143.09 and a two-hundred day moving average price of $138.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $52.91 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 4.10 and a beta of 1.00. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.72.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results 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 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 prior year, the company earned $1.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

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