10,752 Shares in Paychex, Inc. $PAYX Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 10,752 shares of Paychex, Inc. valued at approximately $1,654,000 as part of a new stake in the company during the second quarter.
• Several institutional investors have increased their stakes in Paychex, with 83.47% of the stock now owned by institutional investors and hedge funds, indicating strong market interest in the company.
• Paychex recently announced a quarterly dividend of $1.08 per share, representing a 3.3% dividend yield and a payout ratio of 94.53%.

Kingstone Capital Partners Texas LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,752 shares of the business services provider's stock, valued at approximately $1,654,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Paychex by 26.3% in the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after purchasing an additional 1,190 shares during the period. Bison Wealth LLC grew its stake in shares of Paychex by 3.0% in the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider's stock valued at $566,000 after buying an additional 117 shares during the period. Vise Technologies Inc. increased its holdings in shares of Paychex by 98.0% during the 4th quarter. Vise Technologies Inc. now owns 3,360 shares of the business services provider's stock worth $471,000 after buying an additional 1,663 shares during the last quarter. North Star Asset Management Inc. purchased a new stake in shares of Paychex during the 4th quarter valued at approximately $207,000. Finally, Toronto Dominion Bank lifted its holdings in Paychex by 1.7% in the fourth quarter. Toronto Dominion Bank now owns 118,140 shares of the business services provider's stock valued at $16,565,000 after acquiring an additional 1,945 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PAYX. Royal Bank Of Canada set a $165.00 target price on Paychex and gave the stock a "sector perform" rating in a research note on Tuesday, June 24th. Jefferies Financial Group set a $140.00 price objective on Paychex and gave the stock a "hold" rating in a research report on Thursday, June 26th. Barclays set a $155.00 target price on shares of Paychex and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. UBS Group dropped their price target on shares of Paychex from $148.00 to $140.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. Finally, Citigroup decreased their price objective on shares of Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $149.20.

Paychex Stock Performance

Shares of Paychex stock opened at $130.00 on Monday. 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 52 week low of $129.33 and a 52 week high of $161.24. The firm's 50 day moving average is $139.08 and its two-hundred day moving average is $145.81. The firm has a market capitalization of $46.75 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.98 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share (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 during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Research analysts forecast 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 issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, July 21st. Paychex's payout ratio is presently 94.53%.

Insider Transactions at Paychex

In related news, Chairman Martin Mucci sold 97,526 shares of the firm's stock in a transaction that occurred on 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 transaction, the chairman owned 446,917 shares in the company, valued at $64,878,940.89. This trade represents a 17.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John B. Gibson sold 12,370 shares of Paychex 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 directly owned 81,755 shares in the company, valued at approximately $11,602,669.60. This trade represents a 13.14% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

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.

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