Guinness Atkinson Asset Management Inc Buys 1,599 Shares of Paychex, Inc. (NASDAQ:PAYX)

Guinness Atkinson Asset Management Inc increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,447 shares of the business services provider’s stock after purchasing an additional 1,599 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Paychex were worth $1,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC increased its position in Paychex by 5.6% during the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 74 shares during the last quarter. Fortitude Family Office LLC grew its holdings 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 last quarter. Kanawha Capital Management LLC raised its position 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 worth $575,000 after purchasing an additional 75 shares during the period. Baron Wealth Management LLC lifted its stake in Paychex by 2.2% in the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after purchasing an additional 79 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its position in shares of Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock valued at $1,167,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of PAYX stock opened at $146.29 on Monday. 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 $52.67 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 3.80 and a beta of 1.00. The company’s 50 day moving average is $142.27 and its 200 day moving average is $135.31. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71.

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, topping 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.68%. Paychex’s dividend payout ratio is presently 82.53%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAYX. Jefferies Financial Group raised their price target on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. TD Cowen upped their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. UBS Group lifted their price objective on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.