4,317 Shares in Paychex, Inc. $PAYX Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,317 shares of the business services provider’s stock, valued at approximately $424,000.

Other institutional investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new stake in Paychex during the fourth quarter worth approximately $31,000. Kingdom Financial Group LLC. acquired a new position in Paychex in the fourth quarter valued at approximately $33,000. Acumen Wealth Advisors LLC purchased a new position in Paychex in the fourth quarter valued at approximately $34,000. Wealth Watch Advisors INC purchased a new position in Paychex in the third quarter valued at approximately $42,000. Finally, Field & Main Bank acquired a new stake in Paychex during the second quarter worth approximately $33,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the business’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 transaction, the director directly owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

Paychex Price Performance

Shares of PAYX opened at $125.08 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $138.19. The firm has a 50-day simple moving average of $116.07 and a 200-day simple moving average of $101.83. The company has a market capitalization of $44.49 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82.

Paychex (NASDAQ:PAYX) last issued 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 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 revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, equities research analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th were issued a $1.19 dividend. The ex-dividend date of this dividend was Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.8%. Paychex’s payout ratio is presently 97.34%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PAYX shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research note on Thursday, June 25th. Jefferies Financial Group boosted their price target on shares of Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. TD Cowen raised their price objective on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald reiterated an “underweight” rating and set a $107.00 target price on shares of Paychex in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Paychex has an average rating of “Hold” and an average price target of $109.20.

About Paychex

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.