Westbourne Investment Advisors Inc. Has $6.64 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Westbourne Investment Advisors Inc. increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,316 shares of the business services provider’s stock after acquiring an additional 1,515 shares during the quarter. Paychex comprises about 2.3% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 15th largest position. Westbourne Investment Advisors Inc.’s holdings in Paychex were worth $6,635,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA bought a new position in shares of Paychex during the fourth quarter worth about $28,000. Fortitude Family Office LLC increased its position in Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. MilWealth Group LLC bought a new position in Paychex during the 4th quarter worth approximately $35,000. Quest Partners LLC acquired a new position in shares of Paychex in the 3rd quarter worth approximately $36,000. Finally, Dunhill Financial LLC boosted its stake in shares of Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 274 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Paychex Stock Performance

Shares of PAYX stock opened at $146.74 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. The firm has a fifty day simple moving average of $143.01 and a two-hundred day simple moving average of $137.89. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $151.72. The firm has a market capitalization of $52.84 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. Analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.67%. Paychex’s dividend payout ratio (DPR) is currently 82.53%.

Analyst Upgrades and Downgrades

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

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.