Boomfish Wealth Group LLC Acquires 240 Shares of Paychex, Inc. (NASDAQ:PAYX)

Boomfish Wealth Group LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 10,740 shares of the business services provider’s stock after buying an additional 240 shares during the period. Boomfish Wealth Group LLC’s holdings in Paychex were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC raised its holdings in Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after purchasing an additional 797,843 shares during the period. Barclays PLC increased its position in Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after buying an additional 552,540 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Paychex by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after buying an additional 345,682 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Paychex by 2,404.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider’s stock valued at $46,391,000 after buying an additional 317,634 shares in the last quarter. Finally, Unigestion Holding SA increased its stake in shares of Paychex by 2,139.2% in the third quarter. Unigestion Holding SA now owns 295,692 shares of the business services provider’s stock worth $39,667,000 after purchasing an additional 282,487 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PAYX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $132.23.

Paychex Stock Performance

NASDAQ PAYX opened at $148.05 on Friday. The business’s 50 day moving average price is $142.55 and its 200-day moving average price is $136.93. Paychex, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $150.71. The company has a market cap of $53.31 billion, a P/E ratio of 31.17, a P/E/G ratio of 4.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last posted 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 net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict 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. Investors of record on Friday, February 7th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

About Paychex

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.