Lantz Financial LLC lifted its position in Paychex, Inc. (NASDAQ:PAYX – Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,105 shares of the business services provider’s stock after acquiring an additional 85 shares during the period. Paychex accounts for 0.8% of Lantz Financial LLC’s holdings, making the stock its 26th largest position. Lantz Financial LLC’s holdings in Paychex were worth $2,959,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in PAYX. Raymond James & Associates boosted its stake in Paychex by 27.4% during the 3rd quarter. Raymond James & Associates now owns 988,417 shares of the business services provider’s stock worth $132,636,000 after purchasing an additional 212,700 shares during the last quarter. Guinness Asset Management LTD boosted its position in Paychex by 4.6% during the third quarter. Guinness Asset Management LTD now owns 1,567,667 shares of the business services provider’s stock worth $210,282,000 after acquiring an additional 68,627 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Paychex during the 2nd quarter valued at about $2,557,000. Blue Trust Inc. raised its holdings in Paychex by 169.9% in the 3rd quarter. Blue Trust Inc. now owns 7,624 shares of the business services provider’s stock valued at $1,023,000 after acquiring an additional 4,799 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Paychex by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock worth $25,182,000 after purchasing an additional 4,157 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.
Paychex Stock Up 0.9 %
Paychex stock opened at $146.11 on Friday. The firm has a market capitalization of $52.61 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.95 and a beta of 1.00. The stock’s fifty day simple moving average is $142.19 and its 200-day simple moving average is $136.16. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $150.71. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20.
Paychex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 dividend yield of 2.68%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is presently 82.53%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Finally, UBS Group increased their price target on shares of Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $132.23.
Read Our Latest Analysis on PAYX
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.
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