Koshinski Asset Management Inc. Buys 285 Shares of Paychex, Inc. (NASDAQ:PAYX)

Koshinski Asset Management Inc. increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,002 shares of the business services provider’s stock after acquiring an additional 285 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Paychex were worth $1,122,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PAYX. Guinness Atkinson Asset Management Inc boosted its position in shares of Paychex by 23.3% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 8,447 shares of the business services provider’s stock worth $1,184,000 after purchasing an additional 1,599 shares in the last quarter. Guinness Asset Management LTD boosted its holdings in Paychex by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock worth $231,295,000 after acquiring an additional 82,091 shares in the last quarter. Strong Tower Advisory Services grew its stake in Paychex by 4.7% in the fourth quarter. Strong Tower Advisory Services now owns 14,667 shares of the business services provider’s stock valued at $2,057,000 after acquiring an additional 652 shares during the period. City Holding Co. acquired a new stake in Paychex in the fourth quarter valued at approximately $42,000. Finally, Ellsworth Advisors LLC increased its holdings in shares of Paychex by 2.4% during the fourth quarter. Ellsworth Advisors LLC now owns 43,777 shares of the business services provider’s stock valued at $6,138,000 after acquiring an additional 1,027 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Barclays raised their price target on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Finally, Citigroup lifted their target price on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $132.23.

Paychex Trading Down 0.4 %

NASDAQ PAYX opened at $145.66 on Wednesday. The business’s fifty day moving average is $142.23 and its 200-day moving average is $135.63. 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 has a market capitalization of $52.45 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 4.00 and a beta of 1.00. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Friday, February 7th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.69%. Paychex’s payout ratio is presently 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.