Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,853 shares of the business services provider’s stock after selling 155 shares during the quarter. Greenfield Savings Bank’s holdings in Paychex were worth $1,522,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAYX. Meeder Asset Management Inc. increased its holdings in shares of Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Fortitude Family Office LLC increased its stake in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the period. Quarry LP increased its stake in Paychex by 152.6% in the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the period. Quest Partners LLC acquired a new position in Paychex in the 3rd quarter valued at $36,000. Finally, Dunhill Financial LLC increased its stake in 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 buying an additional 274 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAYX. UBS Group boosted their price objective on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research report on Friday, December 20th. Finally, Jefferies Financial Group boosted their target price on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $132.23.

Paychex Trading Up 1.1 %

NASDAQ PAYX opened at $140.53 on Tuesday. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $150.71. The company has a 50-day moving average of $142.36 and a 200-day moving average of $134.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $50.60 billion, a P/E ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. 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 company posted $1.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

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.