Keybank National Association OH Acquires 211 Shares of Paychex, Inc. (NASDAQ:PAYX)

Keybank National Association OH boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,292 shares of the business services provider’s stock after acquiring an additional 211 shares during the quarter. Keybank National Association OH’s holdings in Paychex were worth $4,808,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Alley Investment Management Company LLC lifted its position in Paychex by 2.0% in the 4th quarter. Alley Investment Management Company LLC now owns 161,359 shares of the business services provider’s stock valued at $22,626,000 after acquiring an additional 3,143 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Paychex by 7.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 11,584 shares of the business services provider’s stock valued at $1,622,000 after buying an additional 769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Paychex by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock valued at $1,408,458,000 after buying an additional 519,761 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Paychex by 8.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 40,190 shares of the business services provider’s stock valued at $5,635,000 after buying an additional 3,140 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its stake in Paychex by 3.3% in the 4th quarter. Meridian Wealth Management LLC now owns 25,796 shares of the business services provider’s stock valued at $3,617,000 after buying an additional 823 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Up 0.1 %

Paychex stock opened at $152.10 on Thursday. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $154.98. The firm has a market capitalization of $54.77 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 4.10 and a beta of 1.00. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $145.94 and a 200 day simple moving average of $141.17.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data 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. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $1.08 EPS. Paychex’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is 82.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays increased their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. UBS Group increased their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $133.23.

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.