Webster Bank N. A. Trims Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Webster Bank N. A. trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,754 shares of the business services provider’s stock after selling 909 shares during the period. Webster Bank N. A.’s holdings in Paychex were worth $4,172,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in Paychex during the 4th quarter worth about $28,000. Fortitude Family Office LLC raised its position in shares of Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the last quarter. Quarry LP lifted its stake in shares of Paychex by 152.6% during the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after buying an additional 177 shares during the period. Quest Partners LLC acquired a new stake in Paychex during the third quarter worth approximately $36,000. Finally, Dunhill Financial LLC grew its stake in Paychex by 805.9% in the 3rd quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after acquiring an additional 274 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Performance

Paychex stock opened at $146.11 on Monday. The company has a market cap of $52.61 billion, a PE ratio of 30.76, a P/E/G ratio of 3.95 and a beta of 1.00. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $150.71. The company has a fifty day moving average price of $142.19 and a two-hundred day moving average price of $136.43. 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 announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors 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 yield of 2.68%. Paychex’s dividend payout ratio is currently 82.53%.

Analyst Upgrades and Downgrades

PAYX has been the topic of a number of recent analyst reports. Barclays increased their price target 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 upped their price target on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. UBS Group raised their target price 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. Jefferies Financial Group increased their price target on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, Paychex presently has a consensus rating of “Hold” and an average 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.