Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Paychex, Inc. $PAYX

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 84.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,659 shares of the business services provider’s stock after selling 724,576 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Paychex were worth $12,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYX. Cornerstone Planning Group LLC boosted its holdings in Paychex by 957.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Paychex during the 4th quarter valued at approximately $31,000. Kingdom Financial Group LLC. purchased a new stake in Paychex during the 4th quarter worth approximately $33,000. Leonteq Securities AG increased its holdings in Paychex by 2,669.2% during the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after purchasing an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Paychex in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $118.87 on Wednesday. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $148.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $42.28 billion, a price-to-earnings ratio of 24.31 and a beta of 0.84. The business has a 50 day simple moving average of $103.04 and a 200-day simple moving average of $98.41.

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, topping the consensus estimate of $1.31 by $0.01. The firm 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 revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

Analyst Upgrades and Downgrades

PAYX has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Citigroup raised shares of Paychex from a “neutral” rating to a “buy” rating and upped their price target for the company from $99.00 to $140.00 in a report on Monday, June 15th. Cantor Fitzgerald reiterated an “underweight” rating and set a $107.00 price objective on shares of Paychex in a research note on Monday, July 20th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $107.53.

Insider Activity

In other news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $115.09, for a total transaction of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares in the company, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

About Paychex

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.