Groupe la Francaise Has $3.71 Million Stake in Paychex, Inc. $PAYX

Groupe la Francaise increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,235 shares of the business services provider’s stock after buying an additional 7,991 shares during the period. Groupe la Francaise’s holdings in Paychex were worth $3,706,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital International Investors increased its holdings in 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 purchasing an additional 11,243,295 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Paychex by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock worth $4,750,669,000 after buying an additional 4,583,157 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Paychex by 4,141.2% during the 4th quarter. Federated Hermes Inc. now owns 2,409,229 shares of the business services provider’s stock worth $270,267,000 after buying an additional 2,352,423 shares during the period. Norges Bank bought a new stake in shares of Paychex in the 4th quarter valued at about $257,699,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Paychex in the 3rd quarter valued at about $117,809,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “underweight” rating and issued a $107.00 price target on shares of Paychex in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. Morgan Stanley upped their target price on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. UBS Group lifted their price target on shares of Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $108.20.

Insider Buying and Selling

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the transaction, the chief financial officer owned 18,547 shares of the company’s stock, valued at $2,134,574.23. This represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by company insiders.

Paychex Price Performance

PAYX stock opened at $116.84 on Friday. The stock has a 50-day moving average price of $104.42 and a two-hundred day moving average price of $98.61. The stock has a market cap of $41.56 billion, a PE ratio of 23.89 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. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $146.83.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is currently 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.