Xponance Inc. Has $8.01 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Xponance Inc. boosted its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 57,149 shares of the business services provider’s stock after buying an additional 3,018 shares during the period. Xponance Inc.’s holdings in Paychex were worth $8,013,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new position in Paychex in the 4th quarter valued at about $28,000. Avion Wealth grew its stake 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 buying an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in Paychex in the 4th quarter valued at about $35,000. Quest Partners LLC bought a new stake in Paychex in the 3rd quarter valued at about $36,000. Finally, Asset Planning Inc bought a new stake in Paychex in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PAYX shares. UBS Group boosted their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Barclays boosted their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, Paychex has a consensus rating of “Hold” and an average target price of $133.23.

Paychex Stock Performance

Shares of Paychex stock opened at $146.99 on Wednesday. The company has a market cap of $52.93 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 4.10 and a beta of 0.98. 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 company has a 50 day moving average of $147.45 and a 200-day moving average of $142.50. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $158.37.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. The business 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 quarter in the prior year, the firm earned $1.08 EPS. As a group, equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Friday, February 7th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is 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.