Gulf International Bank UK Ltd Sells 272 Shares of Paychex, Inc. (NASDAQ:PAYX)

Gulf International Bank UK Ltd trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,403 shares of the business services provider’s stock after selling 272 shares during the period. Gulf International Bank UK Ltd’s holdings in Paychex were worth $3,562,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Union Bancaire Privee UBP SA acquired a new stake in Paychex during the 4th quarter valued at $28,000. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares during the last quarter. Avion Wealth lifted its stake in shares of Paychex by 469.8% during the 4th quarter. Avion Wealth now owns 245 shares of the business services provider’s stock worth $34,000 after buying an additional 202 shares during the last quarter. MilWealth Group LLC bought a new stake in shares of Paychex during the 4th quarter worth about $35,000. Finally, Quest Partners LLC acquired a new position in Paychex in the 3rd quarter valued at about $36,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Down 0.3 %

Shares of NASDAQ PAYX opened at $148.76 on Friday. The stock has a market capitalization of $53.56 billion, a P/E ratio of 31.32, a PEG ratio of 4.10 and a beta of 1.00. The stock’s fifty day moving average is $144.99 and its 200 day moving average is $140.30. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.86. 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 released its earnings results on Thursday, December 19th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 7th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.64%. The ex-dividend date was Friday, February 7th. Paychex’s payout ratio is presently 82.53%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PAYX shares. JPMorgan Chase & Co. raised their price objective on shares of Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Barclays lifted their price target on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock 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.