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

Godshalk Welsh Capital Management Inc. cut its position in Paychex, Inc. (NASDAQ:PAYXFree Report) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 18,200 shares of the business services provider’s stock after selling 965 shares during the period. Paychex accounts for approximately 1.6% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 16th biggest position. Godshalk Welsh Capital Management Inc.’s holdings in Paychex were worth $2,168,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in Paychex by 91.5% during the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Fortis Group Advisors LLC purchased a new stake in Paychex during the 3rd quarter valued at approximately $34,000. Tidemark LLC purchased a new stake in Paychex during the 4th quarter valued at approximately $40,000. Criterion Capital Advisors LLC purchased a new stake in Paychex during the 4th quarter valued at approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Paychex during the 4th quarter valued at approximately $41,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PAYX shares. Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research note on Tuesday. TD Cowen cut their target price on Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Bank of America increased their target price on Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of Paychex in a research note on Wednesday, April 3rd. Finally, Evercore ISI restated an “in-line” rating and issued a $118.00 price target on shares of Paychex in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of “Hold” and an average target price of $123.00.

View Our Latest Analysis on Paychex

Paychex Price Performance

NASDAQ:PAYX traded down $1.43 during trading hours on Friday, reaching $124.23. 1,354,383 shares of the company traded hands, compared to its average volume of 1,539,131. The firm’s 50-day moving average is $122.13 and its 200-day moving average is $121.54. The stock has a market cap of $44.72 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Paychex, Inc. has a 1-year low of $104.09 and a 1-year high of $129.70.

Paychex (NASDAQ:PAYXGet Free Report) last announced its earnings results on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a return on equity of 46.14% and a net margin of 31.86%. Paychex’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. Equities research analysts expect that Paychex, Inc. will post 4.71 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.98 per share. This is a boost from Paychex’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 9th. This represents a $3.92 annualized dividend and a dividend yield of 3.16%. Paychex’s dividend payout ratio (DPR) is 85.40%.

Paychex Company Profile

(Free Report)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

Further Reading

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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