Paychex, Inc. (NASDAQ:PAYX) Stock Position Decreased by Chemung Canal Trust Co.

Chemung Canal Trust Co. decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,888 shares of the business services provider’s stock after selling 121 shares during the quarter. Chemung Canal Trust Co.’s holdings in Paychex were worth $826,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC increased its holdings in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 73 shares during the last quarter. CVA Family Office LLC grew its holdings 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 purchasing an additional 74 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Paychex by 42.0% during the third 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 lifted its stake in shares of Paychex by 1.8% in the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after buying an additional 75 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its stake in shares of 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 buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PAYX. Morgan Stanley lifted their target price on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Barclays lifted their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Stifel Nicolaus raised their target price on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen upped their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group increased their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. 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 MarketBeat.com, Paychex presently has an average rating of “Hold” and a consensus target price of $132.23.

Paychex Trading Up 0.9 %

Shares of Paychex stock opened at $146.11 on Friday. The company’s fifty day moving average price is $142.12 and its two-hundred day moving average price is $135.96. The firm has a market capitalization of $52.61 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts expect that Paychex, Inc. will post 4.99 EPS for the current 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 paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, February 7th. Paychex’s dividend payout ratio is 82.53%.

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.