Baxter Bros Inc. Cuts Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Baxter Bros Inc. trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,747 shares of the business services provider’s stock after selling 1,303 shares during the quarter. Paychex makes up approximately 1.9% of Baxter Bros Inc.’s investment portfolio, making the stock its 17th largest position. Baxter Bros Inc.’s holdings in Paychex were worth $14,407,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Union Bancaire Privee UBP SA acquired a new stake in Paychex in the fourth quarter valued at $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex during the 4th quarter worth approximately $33,000. Avion Wealth lifted its holdings in shares of Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after buying an additional 202 shares during the period. MilWealth Group LLC acquired a new position in Paychex during the fourth quarter worth $35,000. Finally, Quest Partners LLC purchased a new position in Paychex in the third quarter worth $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

PAYX has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. UBS Group lifted their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Barclays raised their price target on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, Paychex has an average rating of “Hold” and a consensus price target of $133.23.

Paychex Price Performance

Shares of PAYX stock opened at $144.83 on Tuesday. The firm has a market cap of $52.15 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 4.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s fifty day simple moving average is $147.86 and its 200 day simple moving average is $142.89. Paychex, Inc. has a one year low of $114.72 and a one year high of $158.37.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is currently 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.