111 Capital Purchases 8,487 Shares of Paychex, Inc. $PAYX

111 Capital lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 174.1% in the 4th quarter, Holdings Channel reports. The fund owned 13,362 shares of the business services provider’s stock after acquiring an additional 8,487 shares during the quarter. 111 Capital’s holdings in Paychex were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Paychex by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock worth $4,750,669,000 after acquiring an additional 4,583,157 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Paychex by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 9,705,424 shares of the business services provider’s stock worth $1,093,958,000 after buying an additional 78,760 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Paychex by 15.9% in the 2nd quarter. Select Equity Group L.P. now owns 4,051,413 shares of the business services provider’s stock worth $589,319,000 after buying an additional 557,101 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Paychex by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,805,391 shares of the business services provider’s stock worth $355,650,000 after buying an additional 31,321 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Paychex by 1.4% in the 4th quarter. Legal & General Group Plc now owns 2,455,435 shares of the business services provider’s stock worth $275,451,000 after buying an additional 33,467 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PAYX shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. TD Cowen upgraded Paychex to a “hold” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. cut their price target on Paychex from $125.00 to $100.00 and set an “underweight” rating on the stock in a research note on Thursday, March 26th. Finally, Guggenheim assumed coverage on Paychex in a research note on Thursday, March 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $106.38.

Paychex Stock Performance

PAYX stock opened at $100.53 on Friday. The company has a market cap of $36.02 billion, a P/E ratio of 22.14 and a beta of 0.84. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $161.24. 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 stock’s fifty day moving average price is $93.17 and its 200-day moving average price is $100.42.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $1.81 billion for 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 company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. On average, equities analysts forecast that Paychex, Inc. will post 5.5 earnings per share for the current year.

Paychex Increases Dividend

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