Ceera Investments LLC Raises Holdings in Paychex, Inc. $PAYX

Ceera Investments LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 66.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,347 shares of the business services provider’s stock after buying an additional 12,887 shares during the quarter. Paychex comprises 1.3% of Ceera Investments LLC’s investment portfolio, making the stock its 24th biggest holding. Ceera Investments LLC’s holdings in Paychex were worth $2,980,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of Paychex by 26.3% during the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after purchasing an additional 1,190 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Paychex by 3.0% in 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 period. Woodline Partners LP purchased a new stake in Paychex during the first quarter worth about $3,333,000. NewEdge Advisors LLC boosted its holdings 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 buying an additional 1,290 shares in the last quarter. Finally, Sei Investments Co. grew 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 buying an additional 50,169 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAYX shares. TD Cowen increased their target price on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a report on Monday, June 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Jefferies Financial Group dropped their price objective on Paychex from $110.00 to $105.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Argus raised Paychex to a “strong-buy” rating in a report on Friday, March 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Paychex in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.80.

Insider Buying and Selling

In related news, Director Joseph M. Tucci sold 3,907 shares of Paychex 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 completion of the sale, the director owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Paychex Stock Performance

Shares of PAYX opened at $114.39 on Friday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $148.11. The stock has a market cap of $40.98 billion, a P/E ratio of 23.39 and a beta of 0.84. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $100.05 and a two-hundred day moving average of $98.39.

Paychex (NASDAQ:PAYX) last issued 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 during the quarter, compared to analysts’ expectations of $1.60 billion. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. Paychex’s dividend payout ratio (DPR) is presently 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.