Bangor Savings Bank Raises Stock Holdings in Paychex, Inc. $PAYX

Bangor Savings Bank increased its position in Paychex, Inc. (NASDAQ:PAYX) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,386 shares of the business services provider’s stock after acquiring an additional 285 shares during the period. Bangor Savings Bank’s holdings in Paychex were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Paychex by 118.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider’s stock valued at $21,117,000 after buying an additional 74,245 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Paychex by 32.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider’s stock worth $18,404,000 after buying an additional 29,320 shares during the last quarter. MWA Asset Management boosted its stake in shares of Paychex by 6.5% in the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider’s stock worth $659,000 after buying an additional 262 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Paychex by 15.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider’s stock worth $990,000 after buying an additional 843 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Paychex by 7.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider’s stock worth $1,174,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYX. JPMorgan Chase & Co. upped their target price on Paychex from $148.00 to $153.00 and gave the stock an “underweight” rating in a research note on Thursday, August 14th. Citigroup decreased their target price on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. Stifel Nicolaus decreased their target price on shares of Paychex from $156.00 to $152.00 and set a “hold” rating for the company in a research note on Thursday, June 26th. UBS Group cut their price target on Paychex from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, June 26th. Finally, Barclays set a $155.00 price target on Paychex and gave the stock an “equal weight” rating in a report on Tuesday, June 24th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $149.70.

Insider Activity at Paychex

In other news, CEO John B. Gibson sold 12,370 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total value of $1,755,550.40. Following the transaction, the chief executive officer owned 81,755 shares in the company, valued at $11,602,669.60. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Martin Mucci sold 97,526 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the completion of the transaction, the chairman owned 446,917 shares in the company, valued at approximately $64,878,940.89. This trade represents a 17.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Paychex Stock Performance

NASDAQ PAYX opened at $135.11 on Friday. The stock has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 3.10 and a beta of 0.91. Paychex, Inc. has a twelve month low of $131.83 and a twelve month high of $161.24. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10. The stock has a 50-day moving average of $140.44 and a 200 day moving average of $146.53.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 25th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Paychex had a return on equity of 45.01% and a net margin of 29.75%.The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Sell-side analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, July 21st. Paychex’s dividend payout ratio (DPR) is 94.53%.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.