Webster Bank N. A. Has $3.86 Million Holdings in Paychex, Inc. $PAYX

Webster Bank N. A. lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,501 shares of the business services provider’s stock after selling 3,113 shares during the quarter. Webster Bank N. A.’s holdings in Paychex were worth $3,855,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Select Equity Group L.P. grew its position in Paychex by 99.0% in the first quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock worth $539,102,000 after acquiring an additional 1,738,372 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Paychex by 20,236.7% during the 1st quarter. GAMMA Investing LLC now owns 1,153,089 shares of the business services provider’s stock worth $177,899,000 after buying an additional 1,147,419 shares during the period. Nuveen LLC bought a new stake in Paychex in the 1st quarter valued at $134,192,000. Charles Schwab Investment Management Inc. boosted its holdings in Paychex by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock valued at $1,663,474,000 after purchasing an additional 737,542 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Paychex by 117.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock valued at $187,512,000 after purchasing an additional 657,871 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Down 0.3%

Paychex stock opened at $135.11 on Monday. The company’s 50 day simple moving average is $140.44 and its 200 day simple moving average is $146.52. Paychex, Inc. has a fifty-two week low of $131.83 and a fifty-two week high of $161.24. The firm has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 3.09 and a beta of 0.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, July 21st. Paychex’s dividend payout ratio (DPR) is 94.53%.

Insider Buying and Selling

In other news, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the sale, the chief executive officer directly owned 81,755 shares in the company, valued at $11,602,669.60. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Martin Mucci sold 97,526 shares of the business’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the transaction, the chairman owned 446,917 shares in the company, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PAYX shares. Citigroup dropped their price objective on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. Stifel Nicolaus dropped their price objective on shares of Paychex from $156.00 to $152.00 and set a “hold” rating for the company in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their price objective on shares of Paychex from $148.00 to $153.00 and gave the company an “underweight” rating in a research note on Thursday, August 14th. BMO Capital Markets began coverage on shares of Paychex in a research note on Thursday, July 10th. They issued a “market perform” rating and a $160.00 price objective for the company. Finally, Morgan Stanley dropped their target price on shares of Paychex from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Friday, June 27th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Paychex presently has an average rating of “Reduce” and an average target price of $149.70.

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.