Borer Denton & Associates Inc. Acquires 1,115 Shares of Paychex, Inc. (NASDAQ:PAYX)

Borer Denton & Associates Inc. grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,596 shares of the business services provider’s stock after buying an additional 1,115 shares during the quarter. Paychex makes up 1.2% of Borer Denton & Associates Inc.’s portfolio, making the stock its 23rd largest position. Borer Denton & Associates Inc.’s holdings in Paychex were worth $3,589,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PAYX. Vanguard Group Inc. increased its position in shares of Paychex by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider’s stock worth $4,419,878,000 after purchasing an additional 174,817 shares during the last quarter. State Street Corp raised its position in Paychex by 0.5% during the third quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock valued at $1,775,365,000 after purchasing an additional 60,455 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paychex by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider’s stock worth $1,408,458,000 after acquiring an additional 519,761 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Paychex by 2.1% during the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock worth $1,262,700,000 after buying an additional 190,937 shares during the last quarter. Finally, Barclays PLC increased its holdings in Paychex by 46.2% in the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after purchasing an additional 552,540 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Paychex Stock Down 0.5 %

Shares of NASDAQ PAYX opened at $144.13 on Wednesday. Paychex, Inc. has a one year low of $114.72 and a one year high of $158.37. The business’s fifty day moving average price is $147.91 and its 200-day moving average price is $142.99. The stock has a market capitalization of $51.90 billion, a PE ratio of 30.34, 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.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were given a dividend of $0.98 per share. 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 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.