Paychex, Inc. $PAYX Holdings Decreased by Cooper Haims Advisors LLC

Cooper Haims Advisors LLC lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 50.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,740 shares of the business services provider’s stock after selling 30,876 shares during the period. Paychex accounts for 1.3% of Cooper Haims Advisors LLC’s holdings, making the stock its 15th biggest holding. Cooper Haims Advisors LLC’s holdings in Paychex were worth $3,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XXEC Inc. bought a new stake in Paychex during the second quarter valued at $1,123,016,000. BlackRock Inc. acquired a new stake in Paychex during the 2nd quarter worth about $2,728,970,000. Bank of America Corp DE bought a new position in shares of Paychex in the 2nd quarter worth about $434,061,000. Legal & General Group Plc bought a new position in shares of Paychex in the 2nd quarter worth about $207,184,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Paychex in the 2nd quarter valued at about $193,555,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity at Paychex

In other news, Director Joseph Velli sold 7,839 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the transaction, the director owned 81,725 shares in the company, valued at $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Paychex in a research report on Friday, October 16th. Stifel Nicolaus lowered their target price on Paychex from $130.00 to $112.00 and set a “hold” rating for the company in a report on Thursday, September 24th. Robert W. Baird lowered their target price on Paychex from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Citigroup increased their target price on Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Paychex from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $105.00 to $115.00 in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Paychex currently has an average rating of “Hold” and a consensus price target of $115.93.

Paychex Trading Down 2.0%

NASDAQ:PAYX opened at $117.06 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50-day moving average of $112.00 and a 200-day moving average of $103.78. The company has a market cap of $41.67 billion, a PE ratio of 23.23, a PEG ratio of 2.45 and a beta of 0.81. Paychex, Inc. has a one year low of $85.45 and a one year high of $127.98.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, October 26th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $4.76 annualized dividend and a dividend yield of 4.1%. Paychex’s dividend payout ratio is 94.44%.

About Paychex

Paychex, Inc provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance.

The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.

Founded in Rochester, New York, in 1971 by B.