Osmosis Investment Management UK Ltd Buys Shares of 17,936 Paychex, Inc. $PAYX

Osmosis Investment Management UK Ltd bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,936 shares of the business services provider’s stock, valued at approximately $1,764,000.

A number of other institutional investors have also made changes to their positions in the stock. Cornerstone Planning Group LLC raised its stake in shares of 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 during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Paychex during the 4th quarter worth approximately $31,000. Kingdom Financial Group LLC. acquired a new stake in Paychex in the 4th quarter valued at approximately $33,000. Leonteq Securities AG increased its holdings in Paychex by 2,669.2% in the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new stake in Paychex in the fourth quarter valued at approximately $34,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the sale, the director owned 67,364 shares in the company, valued at $6,618,513. This represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. This represents a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate insiders.

Paychex Stock Performance

Shares of PAYX stock opened at $126.01 on Tuesday. The firm has a 50 day moving average of $111.58 and a two-hundred day moving average of $100.20. The stock has a market capitalization of $44.82 billion, a PE ratio of 25.77 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $140.56.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 3.8%. Paychex’s dividend payout ratio is 97.34%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAYX. TD Cowen upped their price target on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. Jefferies Financial Group lifted their price objective on Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Stifel Nicolaus increased their target price on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. UBS Group raised their target price on Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Citigroup lifted their target price on Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex has an average rating of “Hold” and an average target price of $109.20.

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.