Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,850 shares of the business services provider’s stock after selling 250 shares during the quarter. Paychex accounts for approximately 1.6% of Godshalk Welsh Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Godshalk Welsh Capital Management Inc.’s holdings in Paychex were worth $2,503,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAYX. Royal London Asset Management Ltd. increased its holdings in shares of Paychex by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 187,663 shares of the business services provider’s stock valued at $25,182,000 after purchasing an additional 4,157 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in Paychex by 91.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the business services provider’s stock valued at $1,515,000 after buying an additional 5,153 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Paychex by 6.5% during the 3rd quarter. MML Investors Services LLC now owns 329,080 shares of the business services provider’s stock valued at $44,159,000 after acquiring an additional 20,064 shares during the period. Franklin Resources Inc. boosted its stake in shares of Paychex by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 997,930 shares of the business services provider’s stock worth $142,055,000 after acquiring an additional 27,296 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Paychex by 120.0% in the 4th quarter. Jones Financial Companies Lllp now owns 6,936 shares of the business services provider’s stock worth $973,000 after acquiring an additional 3,783 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of PAYX opened at $150.19 on Thursday. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $158.37. The company’s 50 day simple moving average is $148.03 and its 200 day simple moving average is $143.04. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 4.10 and a beta of 0.98. 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 (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. On average, sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, February 7th. Paychex’s dividend payout ratio is currently 82.53%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAYX. UBS Group lifted their price objective on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays increased their price objective on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $134.50.

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.