Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Godsey & Gibb Inc.

Godsey & Gibb Inc. trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,524 shares of the business services provider’s stock after selling 1,827 shares during the period. Paychex accounts for about 2.2% of Godsey & Gibb Inc.’s holdings, making the stock its 18th largest holding. Godsey & Gibb Inc.’s holdings in Paychex were worth $22,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC grew its position in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the last quarter. Quarry LP boosted its stake in Paychex by 152.6% in the second quarter. Quarry LP now owns 293 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 177 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Paychex during the third quarter worth about $36,000. Dunhill Financial LLC increased its position in shares of Paychex by 805.9% during the third quarter. Dunhill Financial LLC now owns 308 shares of the business services provider’s stock worth $41,000 after purchasing an additional 274 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of Paychex in the 2nd quarter valued at about $63,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on PAYX shares. Jefferies Financial Group lifted their price target on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. upped their target price on shares of Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th. Finally, Citigroup raised their price target on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $132.23.

Paychex Stock Up 1.8 %

Paychex stock opened at $144.27 on Thursday. The stock’s 50 day moving average price is $142.40 and its 200 day moving average price is $134.84. Paychex, Inc. has a 1-year low of $114.72 and a 1-year high of $150.71. The company has a market cap of $51.95 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.72%. Paychex’s dividend payout ratio (DPR) is presently 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.