Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,613 shares of the business services provider’s stock after acquiring an additional 302 shares during the quarter. Twin Capital Management Inc.’s holdings in Paychex were worth $4,433,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PAYX. Meeder Asset Management Inc. boosted its stake in shares of Paychex by 220.7% in the fourth quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider’s stock worth $26,000 after buying an additional 128 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Paychex in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of Paychex during the 4th quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex during the 4th quarter valued at approximately $33,000. Finally, Avion Wealth lifted its stake in shares of Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 202 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

NASDAQ:PAYX opened at $143.32 on Monday. Paychex, Inc. has a twelve month low of $115.40 and a twelve month high of $158.37. The company has a market cap of $51.62 billion, a P/E ratio of 30.17, a P/E/G ratio of 4.10 and a beta of 0.88. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $148.88 and its 200-day moving average price is $143.99.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.74%. Paychex’s payout ratio is currently 81.67%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of Paychex from $140.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, March 31st. Stifel Nicolaus increased their price target on Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, March 27th. Morgan Stanley boosted their price objective on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Cfra Research upgraded Paychex to a “hold” rating in a research report on Thursday, March 27th. Finally, UBS Group upped their price objective on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.00.

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.