Paychex, Inc. $PAYX Shares Sold by Fieldview Capital Management LLC

Fieldview Capital Management LLC decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 56.9% in the fourth quarter, HoldingsChannel reports. The firm owned 22,925 shares of the business services provider’s stock after selling 30,269 shares during the quarter. Fieldview Capital Management LLC’s holdings in Paychex were worth $2,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PAYX. Capital International Investors lifted its holdings in Paychex by 59.1% in the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock valued at $3,395,583,000 after acquiring an additional 11,243,295 shares during the period. Vanguard Group Inc. increased its position in shares of Paychex by 17.2% during the third quarter. Vanguard Group Inc. now owns 37,765,468 shares of the business services provider’s stock worth $4,787,151,000 after purchasing an additional 5,549,511 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Paychex by 4,141.2% during the fourth quarter. Federated Hermes Inc. now owns 2,409,229 shares of the business services provider’s stock worth $270,267,000 after purchasing an additional 2,352,423 shares in the last quarter. Norges Bank purchased a new stake in Paychex in the 4th quarter valued at $257,699,000. Finally, Voloridge Investment Management LLC purchased a new stake in Paychex in the 3rd quarter valued at $117,809,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

Shares of PAYX stock opened at $100.63 on Friday. The stock has a fifty day moving average price of $93.95 and a 200 day moving average price of $100.07. The stock has a market cap of $36.05 billion, a PE ratio of 22.17 and a beta of 0.84. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $154.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.26 and a current ratio of 1.26.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Paychex had a return on equity of 48.52% and a net margin of 25.84%.Paychex’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share. Sell-side analysts forecast that Paychex, Inc. will post 5.5 earnings per share for the current fiscal year.

Paychex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.7%. This is a positive change from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s payout ratio is presently 104.85%.

Analyst Ratings Changes

PAYX has been the subject of several analyst reports. Stephens dropped their target price on Paychex from $125.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. UBS Group reduced their price target on Paychex from $98.00 to $94.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Wells Fargo & Company dropped their price objective on Paychex from $116.00 to $95.00 and set an “underweight” rating on the stock in a report on Thursday, March 26th. Morgan Stanley dropped their price target on Paychex from $123.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on Paychex from $125.00 to $100.00 and set an “underweight” rating on the stock in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Paychex has a consensus rating of “Reduce” and a consensus price target of $106.63.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.