Consolidated Planning Corp Has $373,000 Position in Paychex, Inc. (NASDAQ:PAYX)

Consolidated Planning Corp grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,658 shares of the business services provider’s stock after purchasing an additional 200 shares during the quarter. Consolidated Planning Corp’s holdings in Paychex were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAYX. State Street Corp boosted its position in Paychex by 0.5% during the 3rd quarter. State Street Corp now owns 13,230,236 shares of the business services provider’s stock worth $1,775,365,000 after buying an additional 60,455 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Paychex by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,524,870 shares of the business services provider’s stock worth $1,278,142,000 after acquiring an additional 345,682 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Paychex by 2.1% during the third quarter. Geode Capital Management LLC now owns 9,414,072 shares of the business services provider’s stock worth $1,262,700,000 after acquiring an additional 190,937 shares during the last quarter. Barclays PLC lifted its stake in shares of Paychex by 46.2% in the third quarter. Barclays PLC now owns 1,748,485 shares of the business services provider’s stock worth $234,627,000 after acquiring an additional 552,540 shares during the period. Finally, Guinness Asset Management LTD boosted its holdings in Paychex by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 1,649,758 shares of the business services provider’s stock valued at $231,295,000 after acquiring an additional 82,091 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Up 1.1 %

NASDAQ:PAYX opened at $148.63 on Friday. Paychex, Inc. has a 52 week low of $114.72 and a 52 week high of $151.72. The firm has a 50-day moving average price of $143.15 and a two-hundred day moving average price of $138.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $53.52 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. On average, equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.64%. Paychex’s payout ratio is currently 82.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PAYX shares. JPMorgan Chase & Co. increased 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price target on shares of Paychex in a research report on Friday, December 20th. Finally, Barclays lifted their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex currently has an average rating of “Hold” and an average target price of $132.23.

Paychex 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.