Maridea Wealth Management LLC Buys Shares of 5,543 Paychex, Inc. $PAYX

Maridea Wealth Management LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,543 shares of the business services provider’s stock, valued at approximately $545,000.

A number of other large investors have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in Paychex in the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its position in shares of Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after purchasing an additional 268 shares in the last quarter. Kingdom Financial Group LLC. acquired a new position in shares of Paychex during the fourth quarter worth $33,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Paychex during the 4th quarter valued at $34,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Paychex in the 3rd quarter worth $42,000. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYX has been the topic of several research analyst reports. Citigroup boosted their target price on Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. Stifel Nicolaus raised their price target on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Morgan Stanley boosted their price target on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, June 25th. One investment 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. Based on data from MarketBeat, Paychex presently has a consensus rating of “Hold” and a consensus price target of $109.20.

Paychex Price Performance

NASDAQ PAYX opened at $122.02 on Friday. The company has a market cap of $43.40 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81. 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’s fifty day moving average price is $108.92 and its 200 day moving average price is $99.38. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $141.19.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. The company had revenue of $1.61 billion during 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 was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, equities research analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

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

Insider Transactions at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph M. Tucci sold 3,907 shares of the company’s 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 in the company, valued at $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.