Turtle Creek Wealth Advisors LLC Takes Position in Paychex, Inc. $PAYX

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 1st quarter, HoldingsChannel reports. The firm acquired 5,897 shares of the business services provider’s stock, valued at approximately $543,000.

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

Paychex Price Performance

Shares of Paychex stock opened at $106.35 on Friday. The business’s fifty day moving average price is $96.60 and its two-hundred day moving average price is $98.76. 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 company has a market capitalization of $38.10 billion, a P/E ratio of 21.75 and a beta of 0.84. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $148.11.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates 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% 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. As a group, research analysts forecast that Paychex, Inc. will post 5.97 EPS for the current year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.19 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This is an increase from Paychex’s previous quarterly dividend of $1.08. This represents a $4.76 annualized dividend and a yield of 4.5%. Paychex’s dividend payout ratio is currently 97.34%.

Analyst Upgrades and Downgrades

PAYX has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Paychex from $110.00 to $105.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Argus raised shares of Paychex to a “strong-buy” rating in a report on Friday, March 27th. Stifel Nicolaus upped their price target on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Stephens dropped their price objective on shares of Paychex from $125.00 to $105.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Finally, BMO Capital Markets lifted their price objective on shares of Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.80.

Insider Transactions at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.