Daymark Wealth Partners LLC Has $1.24 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Daymark Wealth Partners LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,818 shares of the business services provider’s stock after selling 453 shares during the period. Daymark Wealth Partners LLC’s holdings in Paychex were worth $1,237,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after purchasing an additional 74 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Paychex during the third quarter worth about $36,000. Quarry LP increased its stake in shares of Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the period. City Holding Co. bought a new position in Paychex in the 4th quarter valued at approximately $42,000. Finally, Dunhill Financial LLC boosted its position in Paychex by 805.9% during the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after buying an additional 274 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Paychex Price Performance

Shares of PAYX opened at $144.77 on Thursday. The firm has a market cap of $52.13 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 3.98 and a beta of 1.00. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71. The business’s 50 day moving average price is $142.18 and its two-hundred day moving average price is $135.83. 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 (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 the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. On average, equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.71%. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Citigroup lifted their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. UBS Group increased their price target on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their price objective on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.23.

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.