Paychex, Inc. (NASDAQ:PAYX) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,468 shares of the business services provider’s stock after selling 332 shares during the quarter. FineMark National Bank & Trust’s holdings in Paychex were worth $907,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex during the fourth quarter worth about $28,000. Millstone Evans Group LLC acquired a new stake in shares of Paychex in the 4th quarter valued at about $33,000. Avion Wealth grew its stake in Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares during the last quarter. MilWealth Group LLC purchased a new position in Paychex during the 4th quarter worth approximately $35,000. Finally, Quest Partners LLC acquired a new position in Paychex during the third quarter worth approximately $36,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays lifted 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. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $133.23.

Paychex Trading Down 0.5 %

NASDAQ PAYX opened at $144.13 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $51.90 billion, a P/E ratio of 30.34, a P/E/G ratio of 4.10 and a beta of 0.98. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $158.37. The firm has a 50-day moving average price of $147.91 and a 200 day moving average price of $142.99.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were issued a $0.98 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.72%. Paychex’s dividend payout ratio is currently 82.53%.

Paychex 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.