14,501 Paychex, Inc. $PAYX Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Paychex stake by 11.8% in the third quarter, selling 14,501 shares and ending the period with 108,880 shares worth about $10.7 million.
• Analysts’ consensus rating is Hold, with an average price target of $127.88; views range from Strong Buy to Sell.
• Paychex reported quarterly EPS of $1.34, topping estimates by $0.02, while revenue rose 5.9% year over year. It declared a quarterly dividend of $1.19 per share, equivalent to a 4.0% yield.

Boston Trust Walden Corp lessened its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,880 shares of the business services provider's stock after selling 14,501 shares during the quarter. Boston Trust Walden Corp's holdings in Paychex were worth $10,725,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Field & Main Bank bought a new stake in Paychex during the second quarter worth $33,000. Leonteq Securities AG raised its position in Paychex by 2,669.2% in the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider's stock valued at $33,000 after buying an additional 347 shares during the last quarter. Castleark Management LLC bought a new position in Paychex during the 2nd quarter valued at $35,000. Elevation Wealth Partners LLC lifted its stake in Paychex by 45.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider's stock valued at $39,000 after acquiring an additional 125 shares in the last quarter. Finally, Latitude Advisors LLC bought a new position in Paychex during the 3rd quarter valued at $41,000. Institutional investors own 83.47% of the company's stock.

Analysts Set New Price Targets

PAYX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Paychex from an "underweight" rating to a "neutral" rating and increased their target price for the company from $105.00 to $115.00 in a report on Thursday, September 24th. Raymond James Financial upgraded shares of Paychex from a "market perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, July 16th. Guggenheim restated a "neutral" rating on shares of Paychex in a report on Thursday, September 17th. Cantor Fitzgerald decreased their price objective on shares of Paychex from $112.00 to $96.00 and set an "underweight" rating for the company in a research note on Monday, September 28th. Finally, Jefferies Financial Group dropped their target price on shares of Paychex from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Paychex currently has a consensus rating of "Hold" and an average target price of $127.88.

Paychex Stock Performance

NASDAQ PAYX opened at $119.50 on Friday. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $127.98. The company has a 50-day simple moving average of $112.18 and a 200 day simple moving average of $103.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $42.54 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

Paychex (NASDAQ:PAYX - Get Free Report) last released its earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The company's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, October 26th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, October 26th. Paychex's payout ratio is 94.44%.

Insider Buying and Selling at Paychex

In related news, Director Joseph Velli sold 7,839 shares of the business's stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total transaction of $844,103.52. Following the completion of the transaction, the director directly owned 81,725 shares in the company, valued at $8,800,148. The trade was a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company's stock.

Paychex Company Profile

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.

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