Stonebridge Financial Group LLC Sells 4,877 Shares of Paychex, Inc. $PAYX

Stonebridge Financial Group LLC lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 8.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 49,972 shares of the business services provider’s stock after selling 4,877 shares during the period. Stonebridge Financial Group LLC’s holdings in Paychex were worth $4,914,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PAYX. Cornerstone Planning Group LLC lifted its holdings in shares of Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after buying an additional 268 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Paychex in the fourth quarter worth $31,000. Kingdom Financial Group LLC. bought a new position in Paychex during the fourth quarter worth $33,000. Leonteq Securities AG increased its position in Paychex by 2,669.2% during the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after acquiring an additional 347 shares during the period. Finally, Acumen Wealth Advisors LLC acquired a new position in Paychex during the 4th quarter valued at $34,000. Institutional investors own 83.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the sale, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the transaction, the chief financial officer directly 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. 0.80% of the stock is currently owned by insiders.

Paychex Trading Up 0.7%

Shares of Paychex stock opened at $117.67 on Tuesday. The firm has a market capitalization of $41.85 billion, a PE ratio of 24.06 and a beta of 0.81. 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’s fifty day moving average price is $104.84 and its two-hundred day moving average price is $98.57. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $141.89.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) 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 company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, analysts expect that Paychex, Inc. will post 5.96 EPS 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 paid a dividend of $1.19 per share. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a yield of 4.0%. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen increased their price target on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a report on Monday, June 8th. Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Citigroup increased their target price on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Finally, UBS Group boosted their price target on Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. One 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.com, Paychex has a consensus rating of “Hold” and a consensus price target of $108.20.

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.