Dynamic Advisor Solutions LLC Sells 983 Shares of Paychex, Inc. (NASDAQ:PAYX)

Dynamic Advisor Solutions LLC lowered its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,342 shares of the business services provider’s stock after selling 983 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Paychex were worth $4,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC lifted its stake in Paychex by 2.6% in the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 73 shares during the last quarter. CVA Family Office LLC raised its stake in shares of Paychex by 5.6% in the third quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after buying an additional 74 shares during the period. Fortitude Family Office LLC lifted its position 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 buying an additional 74 shares during the last quarter. Kanawha Capital Management LLC grew its stake in shares of Paychex by 1.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock worth $575,000 after acquiring an additional 75 shares during the period. Finally, Baron Wealth Management LLC increased its holdings in 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 acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 0.9 %

Shares of PAYX opened at $146.11 on Friday. 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 1-year low of $114.72 and a 1-year high of $150.71. The company 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 firm’s 50 day simple moving average is $142.19 and its 200 day simple moving average is $136.16.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Sell-side analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 7th will be issued 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 2.68%. Paychex’s dividend payout ratio is 82.53%.

Analyst Ratings Changes

Several equities research analysts have commented on PAYX shares. Jefferies Financial Group upped their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. UBS Group increased their target price on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $132.23.

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.