Paychex, Inc. $PAYX Stock Holdings Lifted by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. raised its stake in Paychex, Inc. (NASDAQ:PAYX) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,584 shares of the business services provider’s stock after buying an additional 5,183 shares during the period. Paychex makes up about 0.7% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 22nd largest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Paychex were worth $5,467,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PAYX. Alpine Bank Wealth Management bought a new position in shares of Paychex in the first quarter valued at $34,000. MorganRosel Wealth Management LLC bought a new position in shares of Paychex in the first quarter valued at $34,000. Quarry LP bought a new position in shares of Paychex in the first quarter valued at $34,000. Tsfg LLC increased its holdings in shares of Paychex by 122.3% in the first quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock valued at $35,000 after buying an additional 126 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Paychex in the first quarter valued at $38,000. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.3%

Paychex stock opened at $135.11 on Friday. The company’s fifty day simple moving average is $140.44 and its 200-day simple moving average is $146.53. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. Paychex, Inc. has a 12 month low of $131.83 and a 12 month high of $161.24. The stock has a market cap of $48.59 billion, a P/E ratio of 29.56, a P/E/G ratio of 3.10 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The business 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 company posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. As a group, sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, July 21st. Paychex’s payout ratio is currently 94.53%.

Insider Buying and Selling at Paychex

In related news, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the completion of the sale, the chief executive officer owned 81,755 shares of the company’s stock, valued at approximately $11,602,669.60. The trade was a 13.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $14,157,849.42. Following the completion of the sale, the chairman directly owned 446,917 shares of the company’s stock, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PAYX has been the topic of several research analyst reports. Jefferies Financial Group set a $140.00 price objective on shares of Paychex and gave the stock a “hold” rating in a research report on Thursday, June 26th. Morgan Stanley lowered their price objective on shares of Paychex from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Friday, June 27th. Stifel Nicolaus lowered their price objective on shares of Paychex from $156.00 to $152.00 and set a “hold” rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $148.00 to $153.00 and gave the stock an “underweight” rating in a research report on Thursday, August 14th. Finally, BMO Capital Markets initiated coverage on shares of Paychex in a research report on Thursday, July 10th. They set a “market perform” rating and a $160.00 price objective on the stock. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $149.70.

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.