Fieldview Capital Management LLC Trims Stock Position in Paychex, Inc. $PAYX

Fieldview Capital Management LLC lessened its stake in Paychex, Inc. (NASDAQ:PAYX) by 56.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,925 shares of the business services provider’s stock after selling 30,269 shares during the period. Fieldview Capital Management LLC’s holdings in Paychex were worth $2,572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PAYX. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Paychex in the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC grew its position in shares of Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after buying an additional 268 shares during the period. Stance Capital LLC purchased a new stake in Paychex during the 3rd quarter valued at about $31,000. Hilton Head Capital Partners LLC purchased a new stake in Paychex during the 4th quarter valued at about $31,000. Finally, Kingdom Financial Group LLC. bought a new position in Paychex during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Jefferies Financial Group cut their price objective on shares of Paychex from $110.00 to $105.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Argus raised shares of Paychex to a “strong-buy” rating in a report on Friday, March 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Paychex in a report on Friday, April 24th. Finally, UBS Group lowered their price target on Paychex from $98.00 to $94.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Reduce” and an average target price of $106.63.

Paychex Stock Performance

PAYX stock opened at $100.63 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 business has a 50-day moving average price of $93.95 and a 200 day moving average price of $100.07. The company has a market capitalization of $36.05 billion, a P/E ratio of 22.17 and a beta of 0.84. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $154.90.

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 return on equity of 48.52% and a net margin of 25.84%.The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts forecast that Paychex, Inc. will post 5.5 EPS for the current fiscal year.

Paychex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 4.7%. This is a boost from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date was Wednesday, May 13th. Paychex’s payout ratio is presently 104.85%.

Paychex 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.