Schaper Benz & Wise Investment Counsel Inc. WI Grows Position in Paychex, Inc. $PAYX

Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 195,639 shares of the business services provider’s stock after purchasing an additional 10,158 shares during the period. Paychex comprises 1.6% of Schaper Benz & Wise Investment Counsel Inc. WI’s portfolio, making the stock its 21st largest holding. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Paychex were worth $21,947,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PAYX. Heartwood Wealth Advisors LLC bought a new position in shares of Paychex during the third quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in Paychex in the third quarter worth approximately $27,000. Stance Capital LLC purchased a new stake in Paychex during the third quarter worth $31,000. MMA Asset Management LLC bought a new stake in Paychex during the 3rd quarter valued at $32,000. Finally, Westfuller Advisors LLC bought a new stake in Paychex during the 3rd quarter valued at $35,000. Institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research report on Tuesday, December 9th. Morgan Stanley dropped their price objective on Paychex from $133.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Stephens lowered their price target on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Stifel Nicolaus cut their price objective on shares of Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Paychex from $140.00 to $125.00 and set an “underweight” rating for the company in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $121.38.

Paychex Stock Down 3.1%

Shares of PAYX stock opened at $90.61 on Wednesday. The stock’s fifty day moving average price is $97.72 and its 200 day moving average price is $111.51. Paychex, Inc. has a 1-year low of $86.89 and a 1-year high of $161.24. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 20.55 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.27 and a quick ratio of 1.27.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, January 28th were paid a dividend of $1.08 per share. The ex-dividend date was Wednesday, January 28th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.8%. Paychex’s payout ratio is presently 97.96%.

Paychex announced that its board has authorized a stock repurchase program on Friday, January 16th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.