Aprio Wealth Management LLC Has $381,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Aprio Wealth Management LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 61.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,720 shares of the business services provider’s stock after buying an additional 1,038 shares during the period. Aprio Wealth Management LLC’s holdings in Paychex were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PAYX. State Street Corp boosted 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paychex by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock valued at $1,278,142,000 after buying an additional 345,682 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paychex by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock valued at $1,262,700,000 after buying an additional 190,937 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Paychex by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider’s stock valued at $279,351,000 after buying an additional 384,184 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Paychex by 6.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,790,377 shares of the business services provider’s stock worth $212,267,000 after buying an additional 113,856 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Citigroup upped their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Performance

NASDAQ:PAYX opened at $140.53 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm’s 50-day moving average is $142.36 and its 200-day moving average is $134.67. Paychex, Inc. has a 52-week low of $114.72 and a 52-week high of $150.71. The company has a market cap of $50.60 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results 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. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be paid 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 yield of 2.79%. Paychex’s dividend payout ratio is currently 82.53%.

Paychex Company Profile

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.