Segment Wealth Management LLC Sells 784 Shares of Paychex, Inc. $PAYX

Segment Wealth Management LLC lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,880 shares of the business services provider’s stock after selling 784 shares during the quarter. Segment Wealth Management LLC’s holdings in Paychex were worth $855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in Paychex during the 1st quarter valued at $34,000. Quarry LP bought a new stake in Paychex during the 1st quarter valued at $34,000. Alpine Bank Wealth Management bought a new stake in Paychex during the 1st quarter valued at $34,000. Tsfg LLC increased its stake in 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 in the last quarter. Finally, Nova Wealth Management Inc. bought a new stake in Paychex during the 1st quarter valued at $38,000. Institutional investors own 83.47% of the company’s stock.

Insider Activity

In other news, Chairman Martin Mucci sold 97,526 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the sale, the chairman directly owned 446,917 shares in the company, valued at $64,878,940.89. This represents a 17.91% decrease in their ownership of the stock. 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 the company’s stock in a transaction dated 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 sale, the chief executive officer owned 81,755 shares in the company, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAYX. Jefferies Financial Group set a $130.00 target price on shares of Paychex in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paychex in a research note on Saturday, September 27th. TD Cowen reduced their target price on shares of Paychex from $140.00 to $126.00 and set a “hold” rating for the company in a research note on Wednesday. Argus reduced their target price on shares of Paychex from $170.00 to $150.00 in a research note on Thursday. Finally, Stifel Nicolaus reduced their target price on shares of Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research note on Wednesday. Twelve investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $142.77.

Paychex Price Performance

NASDAQ PAYX opened at $124.61 on Friday. The company has a market cap of $44.85 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Paychex, Inc. has a 52 week low of $119.02 and a 52 week high of $161.24. The company has a quick ratio of 1.28, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The firm’s 50-day simple moving average is $135.66 and its two-hundred day simple moving average is $144.37.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were given a dividend of $1.08 per share. The ex-dividend date was Monday, July 21st. This represents a $4.32 annualized dividend and a dividend yield of 3.5%. Paychex’s dividend payout ratio is currently 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.