Godsey & Gibb Inc. Lowers Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Godsey & Gibb Inc. cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 157,524 shares of the business services provider's stock after selling 1,827 shares during the period. Paychex comprises about 2.2% of Godsey & Gibb Inc.'s holdings, making the stock its 18th biggest holding. Godsey & Gibb Inc.'s holdings in Paychex were worth $22,088,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its stake in Paychex by 43.4% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 26,845 shares of the business services provider's stock worth $3,764,000 after buying an additional 8,119 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Paychex by 28.0% in the fourth quarter. Park Avenue Securities LLC now owns 62,609 shares of the business services provider's stock worth $8,779,000 after acquiring an additional 13,704 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Paychex by 15.0% in the fourth quarter. Kathmere Capital Management LLC now owns 4,842 shares of the business services provider's stock worth $679,000 after acquiring an additional 631 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Paychex by 2,404.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 330,844 shares of the business services provider's stock worth $46,391,000 after purchasing an additional 317,634 shares in the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Paychex in the 4th quarter valued at $449,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Up 1.8 %

Paychex stock traded up $2.57 during mid-day trading on Thursday, hitting $146.84. The company's stock had a trading volume of 2,262,960 shares, compared to its average volume of 2,098,836. The stock's fifty day moving average is $142.31 and its two-hundred day moving average is $134.90. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $52.87 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. Paychex, Inc. has a 1 year low of $114.72 and a 1 year high of $150.71.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. On average, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 7th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, February 7th. Paychex's dividend payout ratio is presently 82.53%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Paychex from $122.00 to $133.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on shares of Paychex from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Citigroup upped their price objective on shares of Paychex from $125.00 to $145.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Royal Bank of Canada reissued a "sector perform" rating and issued a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Finally, Barclays upped their price target on Paychex from $135.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, December 23rd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat.com, Paychex has an average rating of "Hold" and a consensus price target of $132.23.

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.