Kestra Private Wealth Services LLC Sells 15,506 Shares of Paychex, Inc. (NASDAQ:PAYX)

Kestra Private Wealth Services LLC lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 33.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,204 shares of the business services provider’s stock after selling 15,506 shares during the period. Kestra Private Wealth Services LLC’s holdings in Paychex were worth $4,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PAYX. Union Bancaire Privee UBP SA purchased a new position in shares of Paychex during the fourth quarter worth approximately $28,000. Fortitude Family Office LLC increased its position in shares of Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. MilWealth Group LLC purchased a new position in shares of Paychex during the fourth quarter worth approximately $35,000. Quest Partners LLC purchased a new position in shares of Paychex during the third quarter worth approximately $36,000. Finally, Dunhill Financial LLC increased its position in shares of Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

NASDAQ PAYX opened at $147.01 on Tuesday. The firm’s fifty day simple moving average is $143.02 and its two-hundred day simple moving average is $138.26. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $151.72. The firm has a market capitalization of $52.93 billion, a P/E ratio of 30.95, a P/E/G ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (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 period in the previous year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.67%. Paychex’s payout ratio is currently 82.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Finally, 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. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, Paychex has a consensus rating of “Hold” and an average target price of $132.23.

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.