Two Point Capital Management Inc. Has $10.43 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

Two Point Capital Management Inc. decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 71,605 shares of the business services provider’s stock after selling 159 shares during the period. Paychex makes up 3.7% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Two Point Capital Management Inc.’s holdings in Paychex were worth $10,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates grew its holdings in Paychex by 27.4% during the third quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock worth $132,636,000 after purchasing an additional 212,700 shares during the period. Blue Trust Inc. grew its holdings in Paychex by 169.9% during the third quarter. Blue Trust Inc. now owns 7,624 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 4,799 shares during the period. Royal London Asset Management Ltd. grew its holdings in Paychex by 2.3% during the third quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock worth $25,182,000 after purchasing an additional 4,157 shares during the period. Miracle Mile Advisors LLC grew its holdings in Paychex by 91.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock worth $1,515,000 after purchasing an additional 5,153 shares during the period. Finally, Amalgamated Bank grew its holdings in Paychex by 6.2% during the third quarter. Amalgamated Bank now owns 70,347 shares of the business services provider’s stock worth $9,440,000 after purchasing an additional 4,082 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Up 0.6 %

Shares of PAYX opened at $146.95 on Thursday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72. The stock has a market capitalization of $52.91 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 4.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a fifty day moving average of $143.09 and a 200-day moving average of $138.56.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. Paychex’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Paychex Company Profile

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.