20,401 Shares in Paychex, Inc. $PAYX Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,401 shares of the business services provider’s stock, valued at approximately $2,006,000.

A number of other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in Paychex by 26.3% in the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after acquiring an additional 1,190 shares during the last quarter. Bison Wealth LLC lifted its holdings in Paychex by 3.0% during the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after purchasing an additional 117 shares during the last quarter. Woodline Partners LP purchased a new stake in Paychex during the first quarter valued at about $3,333,000. NewEdge Advisors LLC boosted its position in Paychex by 3.2% during the second quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider’s stock worth $5,976,000 after purchasing an additional 1,290 shares during the period. Finally, Sei Investments Co. boosted its position in Paychex by 47.1% during the second quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock worth $22,790,000 after purchasing an additional 50,169 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the business’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 value of $299,234.00. Following the completion of the transaction, the chief financial officer owned 18,547 shares of the company’s stock, valued at $2,134,574.23. The trade was a 12.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction 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 transaction, the director directly owned 67,364 shares in the company, valued at $6,618,513. The trade was a 5.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, June 25th. Citigroup boosted their target price on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Stifel Nicolaus increased their target price on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $107.00 price target on shares of Paychex in a report on Monday, July 20th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $109.20.

Paychex Stock Performance

NASDAQ PAYX opened at $122.02 on Monday. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $141.19. 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 $43.40 billion, a PE ratio of 24.95 and a beta of 0.81. The company’s 50 day simple moving average is $108.92 and its two-hundred day simple moving average is $99.34.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current fiscal 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 dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is 97.34%.

Paychex 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.