Altrius Capital Management Inc Acquires Shares of 42,211 Paychex, Inc. $PAYX

Key Points

• Altrius Capital Management acquired a new stake of 42,211 shares in Paychex (NASDAQ:PAYX) in Q4, valued at approximately $4.735 million.
• Paychex topped expectations with Q earnings of $1.71 EPS vs. $1.67 expected and revenue of $1.81 billion, up 19.9% year-over-year, with a net margin of 25.84% and ROE of 48.52%.
• The board authorized a $1.00 billion share repurchase program (up to about 2.5% of shares), and institutional investors hold roughly 83.47% of the company’s stock.

Altrius Capital Management Inc acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,211 shares of the business services provider's stock, valued at approximately $4,735,000.

Several other large investors also recently bought and sold shares of PAYX. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Paychex during the third quarter worth about $27,000. Cornerstone Planning Group LLC boosted its stake in shares of Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider's stock worth $30,000 after buying an additional 268 shares during the period. Stance Capital LLC acquired a new stake in shares of Paychex during the third quarter worth about $31,000. MMA Asset Management LLC acquired a new stake in shares of Paychex during the third quarter worth about $32,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Paychex during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Stock Performance

NASDAQ PAYX opened at $93.02 on Monday. The stock has a market capitalization of $33.33 billion, a P/E ratio of 20.49 and a beta of 0.84. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $161.24. The firm has a 50-day moving average price of $92.27 and a 200 day moving average price of $104.33. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.13.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results 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. Paychex had a net margin of 25.84% and a return on equity of 48.52%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company posted $1.49 earnings per share. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. Equities research analysts expect that Paychex, Inc. will post 5.5 EPS for the current year.

Paychex declared that its Board of Directors has initiated a share buyback plan on Friday, January 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

PAYX has been the subject of several recent research reports. Robert W. Baird decreased their target price on shares of Paychex from $148.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, March 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Paychex in a research note on Friday, April 24th. Argus upgraded shares of Paychex to a "strong-buy" rating in a research note on Friday, March 27th. UBS Group decreased their target price on shares of Paychex from $98.00 to $94.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. Finally, Guggenheim initiated coverage on shares of Paychex in a report on Thursday, March 19th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Paychex presently has an average rating of "Reduce" and an average price target of $106.38.

Paychex Company 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.

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