UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Paychex, Inc. $PAYX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,669,450 shares of the business services provider’s stock after selling 29,943 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paychex were worth $262,487,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PAYX. 44 Wealth Management LLC lifted its stake in Paychex by 2.7% during the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock worth $479,000 after purchasing an additional 86 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Paychex by 3.5% in the second quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 89 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in Paychex by 1.4% in the third quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 100 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Paychex by 14.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 101 shares during the last quarter. Finally, Zacks Investment Management raised its holdings in Paychex by 5.1% during the third quarter. Zacks Investment Management now owns 2,094 shares of the business services provider’s stock worth $265,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Insider Activity at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 18,547 shares in the company, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. The trade was a 5.48% 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 Trading Up 0.2%

Shares of Paychex stock opened at $127.34 on Tuesday. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $139.53. 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 company has a market capitalization of $45.29 billion, a P/E ratio of 26.04 and a beta of 0.81. The company’s fifty day moving average is $114.39 and its two-hundred day moving average is $101.17.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, July 28th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, July 28th. Paychex’s payout ratio is 97.34%.

Wall Street Analyst Weigh In

PAYX has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Morgan Stanley raised their price objective on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Finally, Citigroup lifted their target price on Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.