Bontempo Ohly Capital Mgmt LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,007 shares of the business services provider's stock, valued at approximately $4,229,000. Paychex accounts for about 1.8% of Bontempo Ohly Capital Mgmt LLC's holdings, making the stock its 16th largest position.
Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider's stock worth $30,000 after buying an additional 268 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex in the 4th quarter valued at approximately $31,000. Kingdom Financial Group LLC. purchased a new stake in shares of Paychex in the 4th quarter valued at approximately $33,000. Leonteq Securities AG lifted its holdings in shares of Paychex by 2,669.2% in the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider's stock worth $33,000 after acquiring an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of Paychex during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 83.47% of the company's stock.
Insider Transactions at Paychex
In related news, CFO Robert L. Schrader sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares of the company's stock, valued at $2,134,574.23. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the transaction, the director owned 67,364 shares of the company's stock, valued at $6,618,513. This represents a 5.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on PAYX shares. Morgan Stanley boosted their target price on Paychex from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. Cantor Fitzgerald restated an "underweight" rating and set a $107.00 price target on shares of Paychex in a research report on Monday, July 20th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Paychex in a research note on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on Paychex from $100.00 to $105.00 and gave the company an "underweight" rating in a report on Thursday, June 25th. Finally, TD Cowen boosted their price objective on Paychex from $94.00 to $98.00 and gave the company a "hold" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $109.20.
Check Out Our Latest Research Report on Paychex
Paychex Stock Performance
Shares of PAYX stock opened at $124.88 on Thursday. The firm has a 50 day moving average of $112.62 and a two-hundred day moving average of $100.57. The stock has a market capitalization of $44.42 billion, a PE ratio of 25.54 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $139.53.
Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.01. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.
Paychex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, July 28th. Paychex's dividend payout ratio (DPR) is presently 97.34%.
Paychex Company Profile
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Free Report)
Paychex, Inc, founded in 1971 by B. Thomas "Tom" Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company's core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers' compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.
Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.
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