Janney Capital Management LLC Lowers Stake in Paychex, Inc. (NASDAQ:PAYX)

Janney Capital Management LLC lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,492 shares of the business services provider’s stock after selling 1,248 shares during the quarter. Janney Capital Management LLC’s holdings in Paychex were worth $12,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its position in shares of 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 buying an additional 74 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Paychex in the third quarter valued at about $36,000. Quarry LP grew its position 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 purchasing an additional 177 shares during the last quarter. City Holding Co. purchased a new position in shares of Paychex during the 4th quarter worth approximately $42,000. Finally, Dunhill Financial LLC raised its position in shares of 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 purchasing an additional 274 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Performance

Paychex stock opened at $145.46 on Wednesday. The firm’s 50 day simple moving average is $142.18 and its 200-day simple moving average is $135.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $150.71. The company has a market cap of $52.37 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 4.00 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its 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. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Ratings Changes

Several research firms have weighed in on PAYX. TD Cowen raised their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price target on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Citigroup lifted their price target on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.23.

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.