WealthTrak Capital Management LLC Takes $28,000 Position in Paychex, Inc. (NASDAQ:PAYX)

WealthTrak Capital Management LLC purchased a new position in Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 203 shares of the business services provider’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Monument Capital Management increased its holdings in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 72 shares during the last quarter. Mutual Advisors LLC lifted its position in Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after acquiring an additional 73 shares during the last quarter. Emerald Advisors LLC boosted its stake in Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 74 shares during the period. Weaver Capital Management LLC boosted its position in shares of Paychex by 3.7% in the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 75 shares during the period. Finally, Adero Partners LLC grew its position in Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock worth $335,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX stock opened at $151.03 on Friday. 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 firm has a market capitalization of $54.38 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 4.10 and a beta of 0.98. The firm’s 50 day moving average is $148.22 and its 200-day moving average is $143.23. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $158.37.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, February 7th. Paychex’s dividend payout ratio (DPR) is presently 81.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYX. UBS Group upped their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Morgan Stanley increased their price objective on Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Finally, Citigroup increased their target price on shares of Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $137.58.

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.