Paychex, Inc. $PAYX Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,645 shares of the business services provider’s stock after selling 93 shares during the period. Marks Group Wealth Management Inc’s holdings in Paychex were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Merit Financial Group LLC raised its position in shares of Paychex by 153.3% in the second quarter. Merit Financial Group LLC now owns 50,020 shares of the business services provider’s stock worth $7,276,000 after acquiring an additional 30,274 shares during the period. Penobscot Investment Management Company Inc. raised its position in shares of Paychex by 4.9% in the second quarter. Penobscot Investment Management Company Inc. now owns 3,075 shares of the business services provider’s stock worth $447,000 after acquiring an additional 145 shares during the period. QRG Capital Management Inc. raised its position in shares of Paychex by 0.9% in the second quarter. QRG Capital Management Inc. now owns 65,411 shares of the business services provider’s stock worth $9,515,000 after acquiring an additional 595 shares during the period. Cape ANN Savings Bank raised its position in shares of Paychex by 17.3% in the second quarter. Cape ANN Savings Bank now owns 1,767 shares of the business services provider’s stock worth $257,000 after acquiring an additional 260 shares during the period. Finally, Jackson Wealth Management LLC raised its position in shares of Paychex by 0.9% in the second quarter. Jackson Wealth Management LLC now owns 26,459 shares of the business services provider’s stock worth $3,849,000 after acquiring an additional 229 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 1.0%

Shares of NASDAQ PAYX opened at $124.61 on Monday. The company has a 50 day simple moving average of $135.66 and a 200-day simple moving average of $144.37. The company has a market capitalization of $44.85 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.85 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. Paychex, Inc. has a 1 year low of $119.02 and a 1 year high of $161.24.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, July 21st. Paychex’s dividend payout ratio is currently 97.08%.

Insider Activity at Paychex

In other news, Chairman Martin Mucci sold 97,526 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the transaction, the chairman directly owned 446,917 shares in the company, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John B. Gibson sold 12,370 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the completion of the transaction, the chief executive officer owned 81,755 shares in the company, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

PAYX has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paychex in a research report on Saturday, September 27th. Citigroup decreased their price objective on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday, August 21st. Argus reduced their price target on shares of Paychex from $170.00 to $150.00 in a research report on Thursday. Finally, Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the stock a “sector perform” rating in a research report on Tuesday, June 24th. Twelve equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $142.77.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.