Maytus Capital Management LLC Buys Shares of 20,000 Paychex, Inc. (NASDAQ:PAYX)

Maytus Capital Management LLC purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,000 shares of the business services provider's stock, valued at approximately $2,804,000.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in Paychex by 220.7% in the 4th quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider's stock valued at $26,000 after buying an additional 128 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Paychex during the 4th quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in Paychex during the 4th quarter worth about $28,000. Millstone Evans Group LLC bought a new position in Paychex in the 4th quarter worth about $33,000. Finally, Avion Wealth boosted its stake in Paychex by 469.8% in the 4th quarter. Avion Wealth now owns 245 shares of the business services provider's stock worth $34,000 after purchasing an additional 202 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Insider Activity at Paychex

In related news, Director Joseph M. Velli sold 3,650 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the sale, the director now owns 78,455 shares of the company's stock, valued at $11,709,408.75. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.40% of the stock is owned by company insiders.

Paychex Trading Up 0.0%

Shares of PAYX opened at $151.69 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. Paychex, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $158.37. The firm has a 50 day moving average price of $147.07 and a 200-day moving average price of $145.40. The firm has a market cap of $54.64 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 4.10 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The business 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 was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, May 12th will be paid a $1.08 dividend. The ex-dividend date is Monday, May 12th. This is a boost from Paychex's previous quarterly dividend of $0.98. This represents a $4.32 annualized dividend and a dividend yield of 2.85%. Paychex's dividend payout ratio (DPR) is presently 90.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on PAYX. Cfra Research upgraded shares of Paychex to a "hold" rating in a research report on Thursday, March 27th. Citigroup boosted their price target on shares of Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. UBS Group increased their price objective on Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on Paychex from $141.00 to $156.00 and gave the company a "hold" rating in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their target price on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, Paychex currently has an average rating of "Hold" and an average price target of $141.00.

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.

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