4,546 Shares in Paychex, Inc. $PAYX Bought by Sandro Wealth Management LLC

Sandro Wealth Management LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 4,546 shares of the business services provider’s stock, valued at approximately $447,000.

A number of other institutional investors have also recently made changes to their positions in PAYX. Cornerstone Planning Group LLC lifted its stake 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 worth $30,000 after acquiring an additional 268 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Paychex in the fourth quarter valued at approximately $31,000. Kingdom Financial Group LLC. bought a new stake in Paychex in the fourth quarter valued at approximately $33,000. Leonteq Securities AG increased its position in Paychex by 2,669.2% during the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 347 shares during the period. Finally, Acumen Wealth Advisors LLC bought a new position in Paychex during the 4th quarter worth approximately $34,000. Institutional investors own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, June 8th. Morgan Stanley increased their price objective on shares of Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Jefferies Financial Group lifted their target price on shares of Paychex from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Finally, Citigroup upped 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, July 30th. One 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.com, Paychex presently has an average rating of “Hold” and a consensus price target of $109.20.

Paychex Price Performance

Paychex stock opened at $122.02 on Friday. The stock has a market capitalization of $43.40 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $141.19. The stock’s 50 day moving average price is $108.92 and its two-hundred day moving average price is $99.38. 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 the consensus estimate 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 analyst estimates of $1.60 billion. During the same quarter in the previous year, the business posted $1.19 EPS. Paychex’s revenue for the quarter was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, equities analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the 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 $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

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.