Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.50 Million Holdings in Paychex, Inc. (PAYX)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,684 shares of the business services provider’s stock after purchasing an additional 1,249 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Paychex were worth $1,498,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Exeter Financial LLC boosted its position in shares of Paychex by 1.0% during the 1st quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock worth $1,027,000 after acquiring an additional 128 shares in the last quarter. Aurora Investment Counsel acquired a new stake in shares of Paychex during the 4th quarter worth approximately $1,963,000. Steinberg Global Asset Management boosted its position in shares of Paychex by 13.8% during the 1st quarter. Steinberg Global Asset Management now owns 114,582 shares of the business services provider’s stock worth $7,057,000 after acquiring an additional 13,863 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of Paychex by 14.4% during the 4th quarter. Hancock Whitney Corp now owns 35,647 shares of the business services provider’s stock worth $2,322,000 after acquiring an additional 4,485 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of Paychex by 2.1% during the 4th quarter. Cetera Advisors LLC now owns 13,439 shares of the business services provider’s stock worth $884,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.
Several analysts recently issued reports on the stock. Credit Suisse Group increased their price target on shares of Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays increased their price target on shares of Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Finally, Sanford C. Bernstein lowered shares of Paychex from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.14.
Shares of Paychex stock opened at $86.27 on Monday. Paychex, Inc. has a fifty-two week low of $61.32 and a fifty-two week high of $86.98. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $30.98 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 3.36 and a beta of 1.04.
Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 27th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. Paychex had a net margin of 28.19% and a return on equity of 43.20%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts anticipate that Paychex, Inc. will post 2.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.87%. This is an increase from Paychex’s previous quarterly dividend of $0.56. Paychex’s dividend payout ratio (DPR) is presently 97.25%.
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Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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