New Age Alpha Advisors LLC Has $8.13 Million Holdings in Paychex, Inc. (NASDAQ:PAYX)

New Age Alpha Advisors LLC boosted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 46,254.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,943 shares of the business services provider’s stock after purchasing an additional 57,818 shares during the period. New Age Alpha Advisors LLC’s holdings in Paychex were worth $8,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Paychex during the third quarter valued at approximately $36,000. Larson Financial Group LLC boosted its holdings in Paychex by 23.6% in the third quarter. Larson Financial Group LLC now owns 613 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Paychex by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 241,697 shares of the business services provider’s stock worth $32,432,000 after purchasing an additional 1,407 shares in the last quarter. Avestar Capital LLC bought a new position in Paychex during the 3rd quarter valued at $220,000. Finally, Townsquare Capital LLC boosted its stake in Paychex by 34.1% in the third quarter. Townsquare Capital LLC now owns 7,014 shares of the business services provider’s stock valued at $941,000 after acquiring an additional 1,783 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 1.1 %

Shares of NASDAQ PAYX opened at $151.83 on Friday. The stock has a market capitalization of $54.67 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. 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 $148.13 and a 200 day moving average price of $143.10.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.58%. Paychex’s dividend payout ratio is presently 81.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PAYX shares. Barclays increased their price target on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. UBS Group upped their price objective on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Citigroup boosted their price target on shares of Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, Paychex presently has an average rating of “Hold” and a consensus price target of $137.58.

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.