Stonebridge Financial Group LLC Sells 4,877 Shares of Paychex, Inc. $PAYX

Stonebridge Financial Group LLC cut its position in Paychex, Inc. (NASDAQ:PAYX) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,972 shares of the business services provider’s stock after selling 4,877 shares during the period. Stonebridge Financial Group LLC’s holdings in Paychex were worth $4,914,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PAYX. Somerset Trust Co increased its holdings in shares of Paychex by 1.1% during the second quarter. Somerset Trust Co now owns 34,336 shares of the business services provider’s stock worth $3,376,000 after buying an additional 358 shares in the last quarter. Trilogy Capital Inc. boosted its holdings in shares of Paychex by 19.4% in the 2nd quarter. Trilogy Capital Inc. now owns 35,984 shares of the business services provider’s stock worth $3,538,000 after acquiring an additional 5,849 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Paychex by 146.0% in the 2nd quarter. Versant Capital Management Inc now owns 2,376 shares of the business services provider’s stock worth $234,000 after acquiring an additional 1,410 shares in the last quarter. Redwood Investment Management LLC grew its position in Paychex by 27.9% during the 1st quarter. Redwood Investment Management LLC now owns 8,385 shares of the business services provider’s stock worth $772,000 after acquiring an additional 1,827 shares during the last quarter. Finally, Ballast Advisors LLC acquired a new stake in Paychex during the 1st quarter valued at $64,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Up 0.7%

Shares of PAYX opened at $117.67 on Tuesday. The firm has a market capitalization of $41.85 billion, a price-to-earnings ratio of 24.06 and a beta of 0.81. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $141.89. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. The business’s fifty day moving average price is $104.84 and its two-hundred day moving average price is $98.57.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s payout ratio is currently 97.34%.

Insider Transactions at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction that occurred 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 owned 67,364 shares in the company, valued at $6,618,513. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction that occurred on 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 directly owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PAYX. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Morgan Stanley raised their target price on Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $107.00 price target on shares of Paychex in a report on Monday, July 20th. Stifel Nicolaus upped their price target on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Finally, TD Cowen increased their price objective on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Paychex presently has an average rating of “Hold” and a consensus target price of $108.20.

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.