43,580 Paychex, Inc. $PAYX Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 33.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,382 shares of the business services provider’s stock after selling 43,580 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Paychex were worth $8,509,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Leonteq Securities AG raised its holdings in shares of Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after buying an additional 347 shares during the last quarter. Field & Main Bank purchased a new stake in shares of Paychex during the second quarter valued at $33,000. Castleark Management LLC purchased a new stake in shares of Paychex during the second quarter valued at $35,000. Elevation Wealth Partners LLC grew its holdings in shares of Paychex by 45.5% during the second quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock valued at $39,000 after buying an additional 125 shares during the last quarter. Finally, Latitude Advisors LLC acquired a new position in shares of Paychex in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a research note on Thursday, September 24th. Raymond James Financial raised Paychex from a “market perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, July 16th. Robert W. Baird dropped their price target on Paychex from $125.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, September 28th. Guggenheim reissued a “neutral” rating on shares of Paychex in a report on Thursday, September 17th. Finally, Wolfe Research upgraded Paychex from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $127.88.

Insider Buying and Selling at Paychex

In other Paychex news, Director Joseph Velli sold 7,839 shares of Paychex stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total transaction of $844,103.52. Following the completion of the transaction, the director owned 81,725 shares in the company, valued at approximately $8,800,148. This trade represents a 8.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $109.37 on Friday. The company has a 50 day simple moving average of $113.02 and a two-hundred day simple moving average of $103.60. The stock has a market cap of $38.93 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.27 and a beta of 0.86. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $127.98.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. As a group, analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.19 per share. The ex-dividend date is Monday, October 26th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.4%. Paychex’s dividend payout ratio (DPR) is presently 94.44%.

About Paychex

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.