Paychex, Inc. $PAYX Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 84.6% in the 1st quarter, Holdings Channel reports. The fund owned 131,659 shares of the business services provider’s stock after selling 724,576 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Paychex were worth $12,128,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. 44 Wealth Management LLC boosted its stake in Paychex by 2.7% during the 2nd quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock valued at $479,000 after purchasing an additional 86 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Paychex by 3.5% in the second quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 89 shares during the period. Greenleaf Trust raised its holdings in shares of Paychex by 1.7% during the fourth quarter. Greenleaf Trust now owns 5,834 shares of the business services provider’s stock valued at $654,000 after buying an additional 95 shares during the last quarter. Prosperity Consulting Group LLC raised its holdings in shares of Paychex by 1.4% during the third quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock valued at $922,000 after buying an additional 100 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Paychex by 14.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock worth $90,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the sale, the director owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

Paychex Trading Up 2.9%

Paychex stock opened at $118.87 on Wednesday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $148.00. 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 stock has a market capitalization of $42.28 billion, a PE ratio of 24.31 and a beta of 0.84. The firm has a 50 day simple moving average of $103.04 and a 200-day simple moving average of $98.41.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be given a dividend of $1.19 per share. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 4.0%. Paychex’s dividend payout ratio (DPR) is 97.34%.

Analysts Set New Price Targets

PAYX has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. UBS Group lifted their target price on Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. TD Cowen boosted their price target on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, June 8th. Cantor Fitzgerald reissued an “underweight” rating and issued a $107.00 price target on shares of Paychex in a research note on Monday, July 20th. Finally, Weiss Ratings raised Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. 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 given a Sell rating to the stock. Based on data from MarketBeat, Paychex currently has an average rating of “Hold” and a consensus price target of $107.53.

Paychex Company 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.