Raiffeisen Bank International AG Boosts Holdings in Paychex, Inc. $PAYX

Raiffeisen Bank International AG boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 949.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,364 shares of the business services provider’s stock after buying an additional 71,800 shares during the period. Raiffeisen Bank International AG’s holdings in Paychex were worth $8,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Paychex in the 3rd quarter valued at $1,877,000. Vanguard Group Inc. grew its position in Paychex by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after buying an additional 4,583,157 shares during the last quarter. First Long Island Investors LLC grew its position in Paychex by 23.9% in the 3rd quarter. First Long Island Investors LLC now owns 99,607 shares of the business services provider’s stock valued at $12,626,000 after buying an additional 19,185 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Paychex by 38.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 978,091 shares of the business services provider’s stock worth $123,983,000 after purchasing an additional 270,327 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in shares of Paychex by 35.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 63,659 shares of the business services provider’s stock worth $8,069,000 after purchasing an additional 16,812 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $99.27 on Friday. Paychex, Inc. has a one year low of $85.45 and a one year high of $154.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.26 and a current ratio of 1.26. The company’s fifty day moving average is $93.75 and its two-hundred day moving average is $100.07. The firm has a market capitalization of $35.57 billion, a P/E ratio of 21.87 and a beta of 0.84.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the firm earned $1.49 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts forecast that Paychex, Inc. will post 5.5 EPS for the current fiscal year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.19 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.76 annualized dividend and a dividend yield of 4.8%. This is a boost from Paychex’s previous quarterly dividend of $1.08. Paychex’s payout ratio is presently 104.85%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAYX. Argus upgraded shares of Paychex to a “strong-buy” rating in a research report on Friday, March 27th. Robert W. Baird decreased their target price on shares of Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Guggenheim began coverage on shares of Paychex in a research report on Thursday, March 19th. They set a “neutral” rating on the stock. BMO Capital Markets boosted their target price on shares of Paychex to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, March 26th. Finally, Citigroup decreased their target price on shares of Paychex from $120.00 to $99.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Paychex has a consensus rating of “Reduce” and a consensus target price of $106.63.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.