City State Bank Sells 76 Shares of Paychex, Inc. (NASDAQ:PAYX)

City State Bank decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 1,962 shares of the business services provider’s stock after selling 76 shares during the quarter. City State Bank’s holdings in Paychex were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Aprio Wealth Management LLC increased its position in Paychex by 61.7% during the fourth quarter. Aprio Wealth Management LLC now owns 2,720 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 1,038 shares during the last quarter. Czech National Bank grew its holdings in shares of Paychex by 6.4% in the fourth quarter. Czech National Bank now owns 69,450 shares of the business services provider’s stock worth $9,738,000 after purchasing an additional 4,159 shares during the last quarter. West Oak Capital LLC grew its holdings in shares of Paychex by 337.5% in the fourth quarter. West Oak Capital LLC now owns 700 shares of the business services provider’s stock worth $98,000 after purchasing an additional 540 shares during the last quarter. Graypoint LLC grew its holdings in shares of Paychex by 2.3% in the fourth quarter. Graypoint LLC now owns 4,428 shares of the business services provider’s stock worth $621,000 after purchasing an additional 100 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in shares of Paychex by 131.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,199 shares of the business services provider’s stock worth $308,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Up 1.1 %

NASDAQ PAYX opened at $140.53 on Tuesday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $150.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $142.36 and its 200-day simple moving average is $134.67. The firm has a market cap of $50.60 billion, a PE ratio of 29.96, a P/E/G ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. Paychex’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. As a group, equities analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.79%. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

Paychex Company 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.