5,410 Paychex, Inc. $PAYX Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its stake in Paychex, Inc. (NASDAQ:PAYX) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,104 shares of the business services provider’s stock after selling 5,410 shares during the period. Verdence Capital Advisors LLC’s holdings in Paychex were worth $4,541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. XXEC Inc. purchased a new stake in Paychex in the second quarter worth about $1,123,016,000. BlackRock Inc. purchased a new position in shares of Paychex during the 2nd quarter valued at about $2,728,970,000. State Street Corp lifted its position in shares of Paychex by 2.6% during the 2nd quarter. State Street Corp now owns 14,411,341 shares of the business services provider’s stock valued at $1,417,067,000 after buying an additional 361,713 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Paychex during the 2nd quarter valued at about $434,061,000. Finally, First Trust Advisors LP grew its stake in shares of Paychex by 13.5% during the 1st quarter. First Trust Advisors LP now owns 2,344,056 shares of the business services provider’s stock valued at $215,934,000 after acquiring an additional 278,507 shares during the period. 83.47% of the stock is owned by institutional investors.

Paychex Stock Down 2.0%

PAYX opened at $115.70 on Tuesday. The firm has a 50-day simple moving average of $113.83 and a two-hundred day simple moving average of $103.64. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $127.98. The company has a market capitalization of $41.19 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.48 and a beta of 0.86. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.23.

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

Paychex Dividend Announcement

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. This represents a $4.76 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s payout ratio is presently 94.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Paychex from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, September 24th. BMO Capital Markets lowered their price target on shares of Paychex from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, September 24th. Raymond James Financial raised shares of Paychex from a “market perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 16th. Wells Fargo & Company upped their price target on shares of Paychex from $95.00 to $111.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 9th. Finally, Robert W. Baird reduced their price objective on shares of Paychex from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus target price of $127.59.

Insiders Place Their Bets

In related 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 directly owned 81,725 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

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.