Schroder Investment Management Group Raises Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Schroder Investment Management Group grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 86.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,355,713 shares of the business services provider’s stock after acquiring an additional 628,912 shares during the period. Schroder Investment Management Group’s holdings in Paychex were worth $189,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Monument Capital Management grew its stake in Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 72 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after buying an additional 73 shares in the last quarter. Emerald Advisors LLC grew its position in shares of Paychex by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after buying an additional 74 shares during the last quarter. Weaver Capital Management LLC raised its stake in shares of Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after acquiring an additional 75 shares in the last quarter. Finally, Adero Partners LLC lifted its position in Paychex by 3.2% during the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock valued at $335,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $151.03 on Friday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $158.37. The business’s 50 day moving average price is $148.22 and its 200 day moving average price is $143.30. 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 firm has a market cap of $54.38 billion, a P/E ratio of 31.80, a P/E/G ratio of 4.10 and a beta of 0.98.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. On average, sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.60%. Paychex’s payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays lifted their price target 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. Morgan Stanley upped their target price on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus increased their price target on Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, Citigroup increased their price objective on shares of Paychex from $145.00 to $158.00 and gave the company a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.58.

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.