2,270 Shares in Paychex, Inc. $PAYX Purchased by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC has acquired 2,270 shares of Paychex, Inc. in the first quarter, valued at approximately $350,000.
• Paychex reported earnings of $1.19 per share for the last quarter, matching analysts' consensus, with revenues reaching $1.43 billion.
• The company recently announced a quarterly dividend of $1.08 per share, with an annualized dividend yield of 3.2%.

MBB Public Markets I LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,270 shares of the business services provider's stock, valued at approximately $350,000.

Other hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Paychex by 118.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock valued at $21,117,000 after acquiring an additional 74,245 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Paychex by 32.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock valued at $18,404,000 after acquiring an additional 29,320 shares during the period. MWA Asset Management increased its position in shares of Paychex by 6.5% in the 1st quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock valued at $659,000 after acquiring an additional 262 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Paychex by 15.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider's stock valued at $990,000 after acquiring an additional 843 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Paychex by 7.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider's stock valued at $1,174,000 after acquiring an additional 502 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Martin Mucci sold 97,526 shares of the company's stock in a transaction dated 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 transaction, the chairman owned 446,917 shares in the company, valued at $64,878,940.89. This represents a 17.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John B. Gibson sold 12,370 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the transaction, the chief executive officer owned 81,755 shares of the company's stock, 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.

Paychex Price Performance

Shares of PAYX stock traded down $0.35 during mid-day trading on Friday, hitting $135.11. 1,305,369 shares of the stock were exchanged, compared to its average volume of 1,876,443. The firm has a fifty day moving average of $140.44 and a 200 day moving average of $146.55. 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 $131.83 and a 52-week high of $161.24. The company has a market cap of $48.59 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current 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 paid 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 of this dividend was Monday, July 21st. Paychex's dividend payout ratio is presently 94.53%.

Analysts Set New Price Targets

Several equities research analysts have commented on PAYX shares. Stifel Nicolaus lowered their price target on shares of Paychex from $156.00 to $152.00 and set a "hold" rating on the stock in a report on Thursday, June 26th. Citigroup lowered their price target 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. Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the company a "sector perform" rating in a report on Tuesday, June 24th. Morgan Stanley lowered their price target on shares of Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paychex from $148.00 to $153.00 and gave the company an "underweight" rating in a report on Thursday, August 14th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average 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.