6,991 Shares in Paychex, Inc. $PAYX Bought by Bull Harbor Capital LLC

Bull Harbor Capital LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,991 shares of the business services provider’s stock, valued at approximately $644,000.

Several other institutional investors also recently modified their holdings of PAYX. Hilton Head Capital Partners LLC acquired a new position in shares of Paychex in the 4th quarter valued at $31,000. Cornerstone Planning Group LLC raised its holdings in shares of Paychex by 957.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after buying an additional 268 shares during the last quarter. Kingdom Financial Group LLC. acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $33,000. Acumen Wealth Advisors LLC acquired a new position in shares of Paychex during the fourth quarter valued at $34,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Paychex during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Down 4.7%

PAYX stock opened at $116.33 on Friday. The stock has a fifty day moving average of $104.03 and a 200-day moving average of $98.48. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of 23.79 and a beta of 0.84. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $146.83. 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 (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned $1.19 EPS. Paychex’s revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, equities research analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

Analysts Set New Price Targets

PAYX has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Citigroup lifted their price target on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen raised their target price on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a report on Monday, June 8th. Stifel Nicolaus boosted their price target on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Paychex has a consensus rating of “Hold” and a consensus target price of $108.20.

Insider Activity at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction that occurred on 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 directly owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

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.