Park Place Capital Corp Has $411,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Park Place Capital Corp cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,928 shares of the business services provider’s stock after selling 134 shares during the quarter. Park Place Capital Corp’s holdings in Paychex were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PAYX. Fortitude Family Office LLC raised its stake in shares of 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 purchasing an additional 74 shares during the last quarter. Quarry LP raised its stake in shares of Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Paychex in the third quarter worth approximately $36,000. Dunhill Financial LLC raised its stake in shares of Paychex by 805.9% in the third 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. Finally, City Holding Co. purchased a new stake in shares of Paychex in the fourth quarter worth approximately $42,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Down 0.5 %

Shares of PAYX stock opened at $144.87 on Wednesday. Paychex, Inc. has a 12-month low of $114.72 and a 12-month high of $150.71. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $142.18 and a two-hundred day moving average price of $135.83. The firm has a market cap of $52.16 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 4.00 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $1.08 EPS. Paychex’s revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.71%. Paychex’s dividend payout ratio is presently 82.53%.

Analysts Set New Price Targets

PAYX has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. UBS Group upped their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. TD Cowen upped 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. Finally, Citigroup increased their price objective on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently 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.