Boston Trust Walden Corp Has $13.78 Million Holdings in Paychex, Inc. $PAYX

Boston Trust Walden Corp decreased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.9% in the 1st quarter, Holdings Channel reports. The firm owned 149,629 shares of the business services provider’s stock after selling 6,134 shares during the quarter. Boston Trust Walden Corp’s holdings in Paychex were worth $13,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in Paychex during the third quarter worth $27,000. Cornerstone Planning Group LLC boosted its position in Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 268 shares during the last quarter. Stance Capital LLC acquired a new stake in Paychex during the 3rd quarter worth about $31,000. Hilton Head Capital Partners LLC acquired a new stake in Paychex during the 4th quarter worth about $31,000. Finally, Kingdom Financial Group LLC. acquired a new position in shares of Paychex in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

NASDAQ PAYX opened at $106.35 on Friday. The business’s fifty day moving average is $96.60 and its 200-day moving average is $98.76. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $38.10 billion, a price-to-earnings ratio of 21.75 and a beta of 0.84. Paychex, Inc. has a one year low of $85.45 and a one year high of $148.11.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities research analysts predict that Paychex, Inc. will post 5.97 EPS for the current year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.5%. This is a positive change from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date was Wednesday, May 13th. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

Analyst Ratings Changes

PAYX has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Paychex from $116.00 to $95.00 and set an “underweight” rating on the stock in a research report on Thursday, March 26th. Stephens cut their price target on Paychex from $125.00 to $105.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Argus raised shares of Paychex to a “strong-buy” rating in a research report on Friday, March 27th. Guggenheim started coverage on shares of Paychex in a research report on Thursday, March 19th. They set a “neutral” rating on the stock. Finally, UBS Group cut their target price on shares of Paychex from $100.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.80.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the sale, the director directly owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Paychex Company Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.