Twin Capital Management Inc. Increases Holdings in Paychex, Inc. $PAYX

Twin Capital Management Inc. lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,516 shares of the business services provider’s stock after purchasing an additional 5,272 shares during the quarter. Twin Capital Management Inc.’s holdings in Paychex were worth $3,199,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Paychex in the third quarter worth about $27,000. Stance Capital LLC purchased a new position in shares of Paychex in the third quarter worth about $31,000. MMA Asset Management LLC purchased a new position in shares of Paychex in the third quarter worth about $32,000. Westfuller Advisors LLC purchased a new position in shares of Paychex in the third quarter worth about $35,000. Finally, Caitlin John LLC purchased a new position in shares of Paychex in the third quarter worth about $36,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PAYX. BMO Capital Markets lifted their price target on Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Guggenheim began coverage on Paychex in a research report on Thursday, March 19th. They set a “neutral” rating for the company. Argus upgraded Paychex to a “strong-buy” rating in a research report on Friday, March 27th. Robert W. Baird reduced their price target on Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, Citigroup reduced their price target on Paychex from $120.00 to $99.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $106.38.

Paychex Stock Up 0.5%

Paychex stock opened at $94.92 on Thursday. The stock has a market capitalization of $34.01 billion, a PE ratio of 20.91 and a beta of 0.84. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $161.24. The business has a 50 day simple moving average of $91.96 and a 200-day simple moving average of $101.66. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.26 and a quick ratio of 1.26.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Paychex had a return on equity of 48.52% and a net margin of 25.84%.The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. On average, analysts anticipate that Paychex, Inc. will post 5.5 EPS for the current fiscal year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date is Wednesday, May 13th. Paychex’s dividend payout ratio (DPR) is presently 104.85%.

Paychex Company 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.