Paychex, Inc. $PAYX Shares Sold by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 24.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,758 shares of the business services provider’s stock after selling 6,473 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Paychex were worth $2,216,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Heartwood Wealth Advisors LLC purchased a new stake in shares of Paychex during the third quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Paychex in the third quarter valued at about $27,000. Stance Capital LLC purchased a new stake in shares of Paychex during the 3rd quarter worth approximately $31,000. MMA Asset Management LLC acquired a new stake in shares of Paychex in the 3rd quarter worth approximately $32,000. Finally, Westfuller Advisors LLC acquired a new stake in Paychex in the third quarter valued at $35,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Argus raised Paychex to a “strong-buy” rating in a report on Friday, March 27th. Weiss Ratings restated a “hold (c)” rating on shares of Paychex in a research report on Monday, December 29th. Guggenheim began coverage on shares of Paychex in a research note on Thursday, March 19th. They issued a “neutral” rating for the company. Stifel Nicolaus reduced their price target on Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Finally, Morgan Stanley decreased their price objective on Paychex from $123.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $108.81.

Paychex Stock Performance

NASDAQ:PAYX opened at $90.91 on Thursday. The company has a market cap of $32.57 billion, a P/E ratio of 20.02 and a beta of 0.88. The firm’s 50 day moving average is $95.66 and its two-hundred day moving average is $109.90. Paychex, Inc. has a fifty-two week low of $86.89 and a fifty-two week high of $161.24. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.13.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 EPS. Analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, January 28th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, January 28th. Paychex’s dividend payout ratio (DPR) is 95.15%.

Paychex announced that its Board of Directors has initiated a share buyback program on Friday, January 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.