Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Paychex, Inc. (NASDAQ:PAYXFree Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,691,438 shares of the business services provider’s stock after purchasing an additional 63,337 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Paychex worth $201,474,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PAYX. OFI Invest Asset Management acquired a new position in shares of Paychex during the 3rd quarter valued at $26,000. Larson Financial Group LLC raised its holdings in shares of Paychex by 91.5% in the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Fortis Group Advisors LLC bought a new stake in shares of Paychex in the 3rd quarter worth approximately $34,000. Criterion Capital Advisors LLC bought a new stake in Paychex during the fourth quarter worth approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Paychex in the fourth quarter worth approximately $41,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Up 0.5 %

PAYX opened at $124.37 on Thursday. The company has a market capitalization of $44.77 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. The business has a 50-day moving average of $121.55 and a 200-day moving average of $120.83. Paychex, Inc. has a fifty-two week low of $104.09 and a fifty-two week high of $129.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24.

Paychex (NASDAQ:PAYXGet Free Report) last issued its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. Equities research analysts forecast that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Friday, May 10th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 3.15%. This is an increase from Paychex’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 9th. Paychex’s dividend payout ratio is presently 85.40%.

Paychex announced that its board has authorized a stock buyback program on Friday, January 19th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TD Cowen cut their price objective on Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a research note on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of Paychex in a report on Wednesday, April 3rd. Bank of America boosted their price target on shares of Paychex from $108.00 to $111.00 and gave the company an “underperform” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $118.00 price objective on shares of Paychex in a research note on Tuesday, March 26th. 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 has an average rating of “Hold” and an average price target of $123.00.

View Our Latest Research Report on PAYX

Paychex Profile

(Free Report)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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