Boston Financial Mangement LLC Purchases 1,729 Shares of Paychex, Inc. (NASDAQ:PAYX)

Boston Financial Mangement LLC grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 103.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,397 shares of the business services provider’s stock after purchasing an additional 1,729 shares during the quarter. Boston Financial Mangement LLC’s holdings in Paychex were worth $476,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new position in Paychex during the 4th quarter worth approximately $28,000. Fortitude Family Office LLC increased its stake in shares of Paychex by 42.0% in 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 in the last quarter. Avion Wealth grew its position in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 202 shares during the period. MilWealth Group LLC acquired a new stake in Paychex in the 4th quarter valued at $35,000. Finally, Quest Partners LLC acquired a new stake in Paychex in the 3rd quarter valued at $36,000. Institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PAYX shares. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, Barclays lifted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Up 0.1 %

Shares of NASDAQ PAYX opened at $150.26 on Friday. Paychex, Inc. has a 12 month low of $114.72 and a 12 month high of $151.72. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $54.10 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 4.05 and a beta of 1.00. The business has a 50-day moving average of $143.96 and a 200-day moving average of $139.43.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Paychex’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, February 7th. Paychex’s dividend 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.