Proficio Capital Partners LLC Increases Stake in Paychex, Inc. (NASDAQ:PAYX)

Proficio Capital Partners LLC increased its position in Paychex, Inc. (NASDAQ:PAYX) by 30,382.8% in the 4th quarter, HoldingsChannel reports. The fund owned 568,809 shares of the business services provider’s stock after purchasing an additional 566,943 shares during the period. Proficio Capital Partners LLC’s holdings in Paychex were worth $79,758,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new position in Paychex in the 4th quarter worth about $28,000. Fortitude Family Office LLC boosted its position in shares of 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 acquiring an additional 74 shares during the last quarter. Avion Wealth boosted its position in shares of Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex during the 4th quarter valued at about $35,000. Finally, Quest Partners LLC bought a new stake in shares of Paychex during the 3rd quarter valued at about $36,000. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

PAYX opened at $148.76 on Friday. The business has a fifty day moving average of $144.99 and a 200 day moving average of $140.30. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $151.86. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The stock has a market cap of $53.56 billion, a P/E ratio of 31.32, a PEG ratio of 4.10 and a beta of 1.00.

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

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, February 7th. This represents a $3.92 annualized dividend and a yield of 2.64%. Paychex’s payout ratio is presently 82.53%.

Wall Street Analysts Forecast Growth

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