Paychex, Inc. $PAYX Position Increased by Csenge Advisory Group

Csenge Advisory Group increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 77.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,398 shares of the business services provider’s stock after purchasing an additional 6,719 shares during the quarter. Csenge Advisory Group’s holdings in Paychex were worth $1,517,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Field & Main Bank acquired a new position in Paychex in the 2nd quarter valued at approximately $33,000. Castleark Management LLC acquired a new stake in shares of Paychex during the 2nd quarter valued at $35,000. Elevation Wealth Partners LLC boosted its stake in shares of Paychex by 45.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock valued at $39,000 after buying an additional 125 shares during the period. Latitude Advisors LLC acquired a new stake in shares of Paychex during the 3rd quarter valued at $41,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Paychex by 62.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 481 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Price Performance

Shares of PAYX opened at $115.37 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $41.07 billion, a PE ratio of 22.89, a PEG ratio of 2.44 and a beta of 0.81. The firm’s 50 day moving average price is $111.32 and its 200 day moving average price is $103.91. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $127.98.

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, October 26th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s payout ratio is presently 94.44%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Paychex in a research note on Thursday, October 29th. Wolfe Research raised Paychex from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, September 16th. Guggenheim reissued a “neutral” rating on shares of Paychex in a research report on Thursday, September 17th. Wells Fargo & Company boosted their target price on Paychex from $95.00 to $111.00 and gave the company an “underweight” rating in a research note on Wednesday, September 9th. Finally, Cantor Fitzgerald dropped their target price on Paychex from $112.00 to $96.00 and set an “underweight” rating on the stock in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Paychex currently has an average rating of “Hold” and an average price target of $115.93.

Insider Activity

In related news, Director Joseph Velli sold 7,839 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were 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 approximately $8,800,148. This represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Paychex Profile

Paychex, Inc. provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance. The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.