4,546 Shares in Paychex, Inc. $PAYX Bought by Sandro Wealth Management LLC

Sandro Wealth Management LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,546 shares of the business services provider’s stock, valued at approximately $447,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Paychex during the fourth quarter worth about $31,000. Cornerstone Planning Group LLC lifted its position in Paychex by 957.1% in the 4th 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 in the last quarter. Kingdom Financial Group LLC. bought a new position in Paychex in the 4th quarter valued at about $33,000. Acumen Wealth Advisors LLC acquired a new position in Paychex during the 4th quarter valued at about $34,000. Finally, Wealth Watch Advisors INC acquired a new position in Paychex during the 3rd quarter valued at about $42,000. Institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PAYX. Stifel Nicolaus boosted their price objective on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $107.00 target price on shares of Paychex in a research report on Monday, July 20th. Jefferies Financial Group upped their price target on Paychex from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Morgan Stanley increased their price target on Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.20.

Insider Buying and Selling

In related news, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was 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. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares in the company, valued at $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. Company insiders own 0.80% of the company’s stock.

Paychex Stock Down 2.7%

Paychex stock opened at $122.02 on Friday. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $141.19. 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 firm’s 50-day simple moving average is $108.92 and its 200 day simple moving average is $99.38. The stock has a market cap of $43.40 billion, a PE ratio of 24.95 and a beta of 0.81.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 3.9%. Paychex’s dividend payout ratio is currently 97.34%.

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.