Meeder Advisory Services Inc. Buys 4,707 Shares of Paychex, Inc. $PAYX

Meeder Advisory Services Inc. raised its stake in Paychex, Inc. (NASDAQ:PAYX) by 50.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,067 shares of the business services provider’s stock after purchasing an additional 4,707 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Paychex were worth $1,296,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Paychex by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after buying an additional 4,583,157 shares during the period. Capital International Investors increased its position in shares of Paychex by 59.1% in the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock valued at $3,395,583,000 after acquiring an additional 11,243,295 shares during the period. State Street Corp increased its position in shares of Paychex by 1.6% in the fourth quarter. State Street Corp now owns 13,988,393 shares of the business services provider’s stock valued at $1,569,218,000 after acquiring an additional 216,045 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Paychex by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,550,173 shares of the business services provider’s stock valued at $1,295,698,000 after acquiring an additional 263,152 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Paychex by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,705,424 shares of the business services provider’s stock valued at $1,093,958,000 after acquiring an additional 78,760 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Insider Activity at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the sale, the director directly owned 67,364 shares of the company’s stock, valued at $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

Paychex Stock Performance

Shares of PAYX opened at $111.96 on Wednesday. The company has a 50-day simple moving average of $100.84 and a two-hundred day simple moving average of $98.29. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $39.82 billion, a PE ratio of 22.90 and a beta of 0.84. Paychex, Inc. has a one year low of $85.45 and a one year high of $148.11.

Paychex (NASDAQ:PAYX) last posted its earnings results 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, analysts anticipate that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, July 28th. Paychex’s payout ratio is 97.34%.

Wall Street Analyst Weigh In

PAYX has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on Paychex to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, March 26th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $107.00 price target on shares of Paychex in a research report on Monday. Argus upgraded Paychex to a “strong-buy” rating in a report on Friday, March 27th. Robert W. Baird reduced their target price on Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Finally, Weiss Ratings upgraded Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.40.

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.