43,580 Paychex, Inc. $PAYX Shares Sold by Soltis Investment Advisors LLC

Key Points

• Soltis Investment Advisors reduced its Paychex stake by 33.5% in the third quarter, selling 43,580 shares and retaining 86,382 shares valued at approximately $8.5 million. Institutional investors collectively own 83.47% of Paychex.
• Paychex reported quarterly revenue of $1.63 billion, up 5.9% year over year, and EPS of $1.34, exceeding analyst expectations by $0.02. The company declared a quarterly dividend of $1.19 per share, representing a 4.4% annualized yield.
• Paychex shares opened at $109.37, while analysts maintain a consensus “Hold” rating with an average price target of $127.88.

Soltis Investment Advisors LLC decreased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 33.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,382 shares of the business services provider's stock after selling 43,580 shares during the quarter. Soltis Investment Advisors LLC's holdings in Paychex were worth $8,509,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. XXEC Inc. purchased a new stake in shares of Paychex in the second quarter valued at approximately $1,123,016,000. BlackRock Inc. purchased a new position in Paychex during the 2nd quarter worth $2,728,970,000. State Street Corp raised its position in Paychex by 2.6% during the 2nd quarter. State Street Corp now owns 14,411,341 shares of the business services provider's stock valued at $1,417,067,000 after purchasing an additional 361,713 shares in the last quarter. Bank of America Corp DE bought a new stake in Paychex during the 2nd quarter valued at $434,061,000. Finally, First Trust Advisors LP raised its position in Paychex by 13.5% during the 1st quarter. First Trust Advisors LP now owns 2,344,056 shares of the business services provider's stock valued at $215,934,000 after purchasing an additional 278,507 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

PAYX stock opened at $109.37 on Friday. The firm has a market cap of $38.93 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.27 and a beta of 0.86. The firm has a 50-day simple moving average of $113.02 and a two-hundred day simple moving average of $103.60. Paychex, Inc. has a one year low of $85.45 and a one year high of $127.98. 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 (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $1.22 EPS. Paychex's revenue was up 5.9% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, equities analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, October 26th. Paychex's payout ratio is currently 94.44%.

Insider Transactions at Paychex

In other news, Director Joseph Velli sold 7,839 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 81,725 shares of the company's stock, valued at $8,800,148. This trade represents a 8.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PAYX. Raymond James Financial raised Paychex from a "market perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, July 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Paychex in a research report on Friday, October 16th. Royal Bank Of Canada restated a "sector perform" rating and issued a $130.00 price target on shares of Paychex in a report on Thursday, September 24th. Bank of America dropped their price objective on shares of Paychex from $450.00 to $225.00 in a research note on Wednesday, July 15th. Finally, Wolfe Research raised shares of Paychex from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, September 16th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $127.88.

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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