Mattern Capital Management LLC Raises Position in Paychex, Inc. $PAYX

Mattern Capital Management LLC increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,344 shares of the business services provider’s stock after purchasing an additional 308 shares during the period. Mattern Capital Management LLC’s holdings in Paychex were worth $9,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Paychex during the 1st quarter valued at $34,000. MorganRosel Wealth Management LLC bought a new stake in shares of Paychex during the 1st quarter valued at $34,000. Quarry LP bought a new stake in shares of Paychex during the 1st quarter valued at $34,000. Tsfg LLC raised its position in shares of Paychex by 122.3% during the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 126 shares during the period. Finally, Nova Wealth Management Inc. bought a new stake in shares of Paychex during the 1st quarter valued at $38,000. 83.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have recently commented on PAYX shares. BMO Capital Markets decreased their price objective on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Paychex from $148.00 to $153.00 and gave the company an “underweight” rating in a research report on Thursday, August 14th. Robert W. Baird decreased their price objective on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the company a “sector perform” rating in a research report on Tuesday, June 24th. Finally, Stifel Nicolaus reduced their price target on shares of Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a report on Wednesday. Eleven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $142.83.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $123.42 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.28 and a current ratio of 1.27. The company has a market cap of $44.38 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 0.92. The firm’s fifty day moving average is $136.13 and its two-hundred day moving average is $144.55. Paychex, Inc. has a 52-week low of $119.02 and a 52-week high of $161.24.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $1.16 EPS. Paychex’s revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, July 21st. Paychex’s dividend payout ratio (DPR) is presently 97.08%.

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.