Drucker Wealth 3.0 LLC Has $1.14 Million Stake in Paychex, Inc. $PAYX

Drucker Wealth 3.0 LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 79.1% during the first quarter, Holdings Channel reports. The institutional investor owned 12,393 shares of the business services provider’s stock after acquiring an additional 5,475 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Paychex were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYX. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Paychex in the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC boosted its position in shares of Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. Stance Capital LLC acquired a new stake in shares of Paychex during the 3rd quarter valued at about $31,000. Hilton Head Capital Partners LLC bought a new stake in Paychex in the fourth quarter valued at about $31,000. Finally, Kingdom Financial Group LLC. bought a new stake in Paychex in the fourth quarter valued at about $33,000. Institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PAYX. Weiss Ratings reissued a “hold (c-)” rating on shares of Paychex in a research report on Friday, April 24th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Stifel Nicolaus increased their target price on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. UBS Group cut their target price on Paychex from $100.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their target price on Paychex from $123.00 to $107.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $105.67.

Paychex Trading Down 0.1%

Shares of PAYX stock opened at $99.81 on Tuesday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $148.76. The company has a market capitalization of $35.76 billion, a P/E ratio of 20.41 and a beta of 0.84. The firm has a 50-day moving average price of $95.77 and a 200 day moving average price of $98.96. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

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

Paychex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, May 13th. This is an increase from Paychex’s previous quarterly dividend of $1.08. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

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.