Paychex, Inc. (NASDAQ:PAYX) Stock Position Lowered by Prudential Financial Inc.
Prudential Financial Inc. reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 26.8% in Q4, now holding 170,164 shares valued at $23.86 million. Other investors like Vanguard and State Street also adjusted their positions. Paychex's stock opened at $150.19, with a market cap of $54.08 billion and a P/E ratio of 31.62. The company reported $1.49 EPS for the last quarter, exceeding estimates. Paychex declared a quarterly dividend of $0.98, yielding 2.61%. Analysts maintain a consensus rating of "Hold" with an average price target of $134.50.
Prudential Financial Inc. trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,164 shares of the business services provider's stock after selling 62,411 shares during the period. Prudential Financial Inc.'s holdings in Paychex were worth $23,860,000 at the end of the most recent reporting period.
- Why Paychex Stock's Dip is the Best Opportunity in Today's Cycle
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Paychex by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 31,521,025 shares of the business services provider's stock worth $4,419,878,000 after acquiring an additional 174,817 shares during the period. State Street Corp grew its position in Paychex by 0.5% during the third quarter. State Street Corp now owns 13,230,236 shares of the business services provider's stock valued at $1,775,365,000 after purchasing an additional 60,455 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Paychex by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,044,631 shares of the business services provider's stock valued at $1,408,458,000 after buying an additional 519,761 shares during the period. Geode Capital Management LLC lifted its position in Paychex by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider's stock worth $1,262,700,000 after buying an additional 190,937 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Paychex by 46.2% during the 3rd quarter. Barclays PLC now owns 1,748,485 shares of the business services provider's stock valued at $234,627,000 after buying an additional 552,540 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.
Paychex Trading Up 4.2 %
PAYX stock opened at $150.19 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a twelve month low of $114.72 and a twelve month high of $158.37. The company has a market cap of $54.08 billion, a P/E ratio of 31.62, a PEG ratio of 4.10 and a beta of 0.98. The business has a fifty day moving average of $148.03 and a 200-day moving average of $143.04.
- Buy the Dip in Paychex, Inc. for a Pay Check at Retirement
Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.
Paychex Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 7th. Paychex's dividend payout ratio (DPR) is presently 82.53%.
Analyst Ratings Changes
- 3 payroll companies get clocked, but 1 looks cheap
Several brokerages recently commented on PAYX. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. UBS Group increased their price objective on Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Barclays boosted their target price on Paychex from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, Paychex currently has a consensus rating of "Hold" and an average price target of $134.50.
View Our Latest Report on PAYX
Paychex Profile
(Free Report)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.
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