Addison Advisors LLC Has $148,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Addison Advisors LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,057 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Addison Advisors LLC’s holdings in Paychex were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PAYX. Barclays PLC boosted its holdings in shares of Paychex by 46.2% during the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after buying an additional 552,540 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Paychex by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after purchasing an additional 345,682 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Paychex by 2,404.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider’s stock valued at $46,391,000 after purchasing an additional 317,634 shares during the period. Unigestion Holding SA grew its holdings in Paychex by 2,139.2% in the 3rd quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock valued at $39,667,000 after buying an additional 282,487 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Paychex by 334.7% during the 3rd quarter. Janus Henderson Group PLC now owns 260,590 shares of the business services provider’s stock worth $34,966,000 after buying an additional 200,640 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PAYX. Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays raised their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $132.23.

Paychex Trading Up 0.7 %

Shares of PAYX opened at $151.00 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.86. The firm has a market cap of $54.37 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 4.10 and a beta of 1.00. The business’s fifty day moving average is $144.50 and its 200-day moving average is $140.18.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.60%. Paychex’s dividend payout ratio (DPR) is presently 82.53%.

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.