Boston Financial Mangement LLC Has $476,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Boston Financial Mangement LLC boosted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 103.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,397 shares of the business services provider’s stock after purchasing an additional 1,729 shares during the quarter. Boston Financial Mangement LLC’s holdings in Paychex were worth $476,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PAYX. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 valued at $4,337,000 after buying an additional 9,681 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Paychex by 27.1% in the third quarter. Sequoia Financial Advisors LLC now owns 29,006 shares of the business services provider’s stock valued at $3,892,000 after buying an additional 6,186 shares during the period. Eastern Bank boosted its holdings in shares of Paychex by 14.0% in the third quarter. Eastern Bank now owns 3,775 shares of the business services provider’s stock valued at $507,000 after buying an additional 464 shares during the period. Weaver Capital Management LLC boosted its holdings in shares of Paychex by 6.3% in the third quarter. Weaver Capital Management LLC now owns 2,046 shares of the business services provider’s stock valued at $275,000 after buying an additional 121 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Paychex by 46.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 10,815 shares of the business services provider’s stock valued at $1,452,000 after buying an additional 3,453 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PAYX. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Barclays upped their price target on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.23.

Paychex Trading Up 0.1 %

PAYX opened at $150.26 on Friday. The company’s 50 day moving average is $143.96 and its 200-day moving average 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 current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $54.10 billion, a P/E 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 analysts’ consensus estimates 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 the consensus estimate of $1.31 billion. During the same period last year, the company posted $1.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.61%. Paychex’s payout ratio is currently 82.53%.

About Paychex

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.