29,419 Paychex, Inc. $PAYX Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Paychex stake by 9.2%, selling 29,419 shares in the third quarter; it retained 289,856 shares valued at about $28.6 million.
• Paychex reported quarterly EPS of $1.34, beating estimates by $0.02, while revenue rose 5.9% year over year to $1.63 billion. The company declared a $1.19 quarterly dividend, equivalent to a 4.1% yield at the stated share price.
• Analysts’ consensus rating is Hold, with an average price target of $127.88.

Alps Advisors Inc. lessened its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,856 shares of the business services provider's stock after selling 29,419 shares during the period. Alps Advisors Inc. owned about 0.08% of Paychex worth $28,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Paychex by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,519 shares of the business services provider's stock worth $149,000 after acquiring an additional 90 shares in the last quarter. United Community Bank raised its position in shares of Paychex by 3.1% in the second quarter. United Community Bank now owns 3,635 shares of the business services provider's stock valued at $357,000 after buying an additional 110 shares during the last quarter. Bryn Mawr Trust Advisors LLC raised its holdings in shares of Paychex by 4.3% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 2,678 shares of the business services provider's stock valued at $247,000 after buying an additional 111 shares during the period. Elevation Wealth Partners LLC boosted its stake in Paychex by 45.5% in the second 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, Mountain Pacific Investment Advisers LLC increased its stake in Paychex by 3.6% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 3,551 shares of the business services provider's stock valued at $350,000 after purchasing an additional 125 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Paychex Price Performance

NASDAQ:PAYX opened at $117.06 on Friday. The company has a 50-day moving average of $112.00 and a 200-day moving average of $103.78. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.28 and a current ratio of 1.28. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $127.98. The company has a market capitalization of $41.67 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.42 and a beta of 0.81.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.02. Paychex had a return on equity of 52.78% and a net margin of 27.35%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $1.22 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. As a group, equities research analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, October 26th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, October 26th. Paychex's payout ratio is 94.44%.

Insider Buying and Selling

In related news, Director Joseph Velli sold 7,839 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the transaction, the director owned 81,725 shares in the company, valued at approximately $8,800,148. This represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

PAYX has been the topic of several research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $130.00 price target on shares of Paychex in a research report on Thursday, September 24th. Wells Fargo & Company raised their target price on Paychex from $95.00 to $111.00 and gave the company an "underweight" rating in a report on Wednesday, September 9th. Stifel Nicolaus dropped their target price on Paychex from $130.00 to $112.00 and set a "hold" rating on the stock in a report on Thursday, September 24th. Robert W. Baird reduced their price target on Paychex from $125.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, September 28th. Finally, TD Cowen dropped their price objective on Paychex from $117.00 to $105.00 and set a "hold" rating for the company in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $127.88.

Paychex Profile

Paychex, Inc provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance.

The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.

Founded in Rochester, New York, in 1971 by B.

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