Paychex, Inc. $PAYX Stock Purchased by Welch Group LLC

Welch Group LLC boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 509,897 shares of the business services provider’s stock after purchasing an additional 6,320 shares during the period. Paychex makes up about 1.7% of Welch Group LLC’s portfolio, making the stock its 28th largest holding. Welch Group LLC owned 0.14% of Paychex worth $50,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Field & Main Bank acquired a new stake in shares of Paychex in the second quarter valued at $33,000. Leonteq Securities AG grew its holdings in Paychex by 2,669.2% during the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after acquiring an additional 347 shares during the period. Castleark Management LLC bought a new stake in Paychex in the second quarter worth about $35,000. Elevation Wealth Partners LLC raised its position in Paychex by 45.5% in the second quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock worth $39,000 after acquiring an additional 125 shares in the last quarter. Finally, Latitude Advisors LLC bought a new stake in Paychex in the third quarter worth about $41,000. 83.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PAYX. Raymond James Financial raised shares of Paychex from a “market perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, July 16th. Stephens lowered their price objective on shares of Paychex from $132.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 24th. Guggenheim reissued a “neutral” rating on shares of Paychex in a research note on Thursday, September 17th. Citigroup raised their target price on shares of Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upgraded shares of Paychex from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $115.00 in a research report on Thursday, September 24th. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.88.

Insider Activity

In other news, Director Joseph Velli sold 7,839 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the completion of the sale, the director owned 81,725 shares of the company’s stock, valued at $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by insiders.

Paychex Price Performance

NASDAQ PAYX opened at $112.12 on Monday. The stock’s 50-day moving average price is $112.80 and its two-hundred day moving average price is $103.59. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23. The company has a market cap of $39.91 billion, a PE ratio of 22.25, a PEG ratio of 2.35 and a beta of 0.81. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $127.98.

Paychex (NASDAQ:PAYX) last released its quarterly 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, analysts predict that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, October 26th will be issued a $1.19 dividend. The ex-dividend date is Monday, October 26th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. Paychex’s dividend payout ratio 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.