Paychex, Inc. (NASDAQ:PAYX) Shares Sold by LVW Advisors LLC

LVW Advisors LLC reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,874 shares of the business services provider’s stock after selling 310 shares during the period. LVW Advisors LLC’s holdings in Paychex were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PAYX. Brighton Jones LLC grew its holdings in Paychex by 10.4% during the second quarter. Brighton Jones LLC now owns 5,132 shares of the business services provider’s stock worth $608,000 after acquiring an additional 485 shares during the period. Ieq Capital LLC grew its stake in shares of Paychex by 6.7% in the 2nd quarter. Ieq Capital LLC now owns 24,105 shares of the business services provider’s stock worth $2,858,000 after purchasing an additional 1,510 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Paychex by 14.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 4,059 shares of the business services provider’s stock worth $481,000 after purchasing an additional 499 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Paychex by 1.5% during the second quarter. King Luther Capital Management Corp now owns 12,043 shares of the business services provider’s stock valued at $1,428,000 after purchasing an additional 178 shares during the last quarter. Finally, AE Wealth Management LLC boosted its holdings in Paychex by 8.4% during the second quarter. AE Wealth Management LLC now owns 6,604 shares of the business services provider’s stock worth $783,000 after buying an additional 513 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $146.29 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71. The business’s 50-day moving average price is $142.27 and its two-hundred day moving average price is $135.31. The company has a market capitalization of $52.67 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. Analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.68%. Paychex’s dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

PAYX has been the subject of a number of recent research reports. TD Cowen increased their price objective on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Barclays boosted their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. UBS Group raised their target price on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Citigroup boosted their price target on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.23.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.