Cranbrook Wealth Management LLC Purchases 120 Shares of Paychex, Inc. (NASDAQ:PAYX)

Cranbrook Wealth Management LLC lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the business services provider’s stock after purchasing an additional 120 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Paychex were worth $259,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its stake in Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Paychex during the third quarter worth approximately $36,000. Quarry LP lifted its holdings in shares of Paychex by 152.6% in the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after acquiring an additional 177 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 274 shares in the last quarter. Finally, HWG Holdings LP bought a new position in shares of Paychex during the 2nd quarter valued at $63,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Down 0.4 %

NASDAQ:PAYX opened at $146.29 on Friday. The company has a 50-day moving average price of $142.32 and a 200-day moving average price of $134.98. The stock has a market cap of $52.67 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 1.00. 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 $150.71.

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 analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. Equities analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be given 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 2.68%. Paychex’s dividend payout ratio is presently 82.53%.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their price objective on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Finally, Barclays raised their target price 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. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, Paychex 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.