Pensionfund Sabic Buys Shares of 9,150 Paychex, Inc. $PAYX

Pensionfund Sabic bought a new position in shares of Paychex, Inc. (NASDAQ:PAYXFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,150 shares of the business services provider’s stock, valued at approximately $1,026,000.

A number of other large investors have also recently made changes to their positions in PAYX. Heartwood Wealth Advisors LLC purchased a new position in shares of Paychex in the third quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Paychex during the 3rd quarter worth about $27,000. Stance Capital LLC bought a new position in Paychex in the 3rd quarter worth about $31,000. MMA Asset Management LLC bought a new position in Paychex in the 3rd quarter worth about $32,000. Finally, Westfuller Advisors LLC purchased a new position in Paychex during the 3rd quarter valued at about $35,000. 83.47% of the stock is owned by institutional investors.

Paychex News Roundup

Here are the key news stories impacting Paychex this week:

Analyst Ratings Changes

PAYX has been the topic of several analyst reports. Royal Bank Of Canada decreased their price target on Paychex from $125.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 19th. Wells Fargo & Company reduced their price objective on shares of Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research note on Tuesday, December 9th. BMO Capital Markets decreased their target price on shares of Paychex from $121.00 to $103.00 and set a “market perform” rating on the stock in a report on Friday, March 13th. Argus lowered their target price on shares of Paychex from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, January 2nd. Finally, Stifel Nicolaus cut their price target on shares of Paychex from $137.00 to $126.00 and set a “hold” rating for the company in a report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $121.38.

Read Our Latest Analysis on PAYX

Paychex Stock Performance

Shares of PAYX opened at $93.36 on Thursday. Paychex, Inc. has a 12-month low of $86.89 and a 12-month high of $161.24. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.17. The company has a market cap of $33.51 billion, a PE ratio of 21.17 and a beta of 0.91. The stock has a 50-day moving average price of $97.38 and a 200-day moving average price of $111.39.

Paychex (NASDAQ:PAYXGet Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Paychex had a net margin of 26.45% and a return on equity of 46.38%. Paychex’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. As a group, equities analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex announced that its board has initiated a share repurchase program on Friday, January 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, January 28th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.6%. Paychex’s dividend payout ratio is presently 97.96%.

Paychex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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