OLD National Bancorp IN Sells 355 Shares of Paychex, Inc. (NASDAQ:PAYX)

OLD National Bancorp IN trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,242 shares of the business services provider’s stock after selling 355 shares during the period. OLD National Bancorp IN’s holdings in Paychex were worth $595,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PAYX. Union Bancaire Privee UBP SA bought a new position in Paychex during the fourth quarter valued at about $28,000. Fortitude Family Office LLC increased its holdings 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. Quarry LP lifted its holdings in Paychex by 152.6% in the 2nd quarter. Quarry LP now owns 293 shares of the business services provider’s stock worth $35,000 after purchasing an additional 177 shares during the last quarter. Quest Partners LLC bought a new stake in Paychex during the third quarter worth approximately $36,000. Finally, Dunhill Financial LLC grew its holdings in Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Down 0.3 %

PAYX stock opened at $147.67 on Friday. The business has a fifty day moving average price of $142.63 and a 200 day moving average price of $137.01. 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, Inc. has a fifty-two week low of $114.72 and a fifty-two week high of $150.71. The stock has a market capitalization of $53.17 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 4.01 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 EPS 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 company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be given a dividend of $0.98 per share. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.65%. Paychex’s payout ratio is 82.53%.

Wall Street Analyst Weigh In

PAYX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Finally, Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, Paychex has a consensus 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.