Jamison Private Wealth Management Inc. Trims Stake in Paychex, Inc. (NASDAQ:PAYX)

Jamison Private Wealth Management Inc. lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,875 shares of the business services provider’s stock after selling 123 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Paychex were worth $6,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mutual Advisors LLC grew its stake in Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after acquiring an additional 73 shares in the last quarter. CVA Family Office LLC grew its stake in Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after purchasing an additional 74 shares in the last quarter. Fortitude Family Office LLC increased 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 worth $34,000 after purchasing an additional 74 shares during the period. Kanawha Capital Management LLC raised its position in Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 75 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of Paychex by 2.2% in the 3rd 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 period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYX has been the topic of several research reports. TD Cowen raised their price target on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a research note on Friday, December 20th. Morgan Stanley increased their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $132.23.

Paychex Stock Performance

Shares of PAYX opened at $146.11 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a 50-day moving average of $142.19 and a two-hundred day moving average of $136.16. The stock has a market cap 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. Paychex, Inc. has a one year low of $114.72 and a one year high of $150.71.

Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS 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 the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Paychex, Inc. will post 4.99 EPS for the current 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 paid a $0.98 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.68%. Paychex’s payout ratio is currently 82.53%.

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.