Atomi Financial Group Inc. Boosts Position in Paychex, Inc. (NASDAQ:PAYX)

Atomi Financial Group Inc. boosted its stake in Paychex, Inc. (NASDAQ:PAYX) by 135.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,832 shares of the business services provider’s stock after buying an additional 2,205 shares during the period. Atomi Financial Group Inc.’s holdings in Paychex were worth $537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CVA Family Office LLC raised its holdings in Paychex by 5.6% in the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after buying an additional 74 shares during the period. Fortitude Family Office LLC raised its holdings in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the period. Kanawha Capital Management LLC raised its holdings in Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after buying an additional 75 shares during the period. Baron Wealth Management LLC raised its holdings in Paychex by 2.2% in the 3rd quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock valued at $487,000 after buying an additional 79 shares during the period. Finally, Daymark Wealth Partners LLC increased its stake in Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after purchasing an additional 82 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $144.75 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. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The stock has a 50 day moving average of $142.14 and a two-hundred day moving average of $135.89. The stock has a market cap of $52.12 billion, a P/E ratio of 30.47, a P/E/G ratio of 3.98 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 for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target 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. Stifel Nicolaus boosted their price target on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. UBS Group boosted their price target on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat, Paychex has an average rating of “Hold” and a consensus target price of $132.23.

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.