Aurora Investment Counsel Invests $2.29 Million in Paychex, Inc. $PAYX

Aurora Investment Counsel acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,257 shares of the business services provider's stock, valued at approximately $2,287,000. Paychex comprises about 1.2% of Aurora Investment Counsel's investment portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Paychex during the 4th quarter valued at about $31,000. Cornerstone Planning Group LLC raised its position in Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider's stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. Kingdom Financial Group LLC. bought a new position in Paychex during the fourth quarter valued at approximately $33,000. Acumen Wealth Advisors LLC acquired a new stake in Paychex in the fourth quarter valued at approximately $34,000. Finally, Wealth Watch Advisors INC acquired a new stake in Paychex in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Stock Up 2.1%

PAYX opened at $122.50 on Thursday. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $141.19. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $43.57 billion, a price-to-earnings ratio of 25.05 and a beta of 0.81. The business has a 50 day moving average of $110.13 and a 200-day moving average of $99.70.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $1.19 earnings per share. Paychex's quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, sell-side analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, July 28th. Paychex's dividend payout ratio (DPR) is currently 97.34%.

Insider Activity

In other news, Director Joseph M. Tucci sold 3,907 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the transaction, the director owned 67,364 shares in the company, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the transaction, the chief financial officer directly owned 18,547 shares of the company's stock, valued at $2,134,574.23. This represents a 12.29% 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAYX. Cantor Fitzgerald restated an "underweight" rating and set a $107.00 price target on shares of Paychex in a research note on Monday, July 20th. Stifel Nicolaus increased their target price on shares of Paychex from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, June 17th. Jefferies Financial Group raised their target price on Paychex from $105.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. Citigroup boosted their price target on Paychex from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Paychex in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, Paychex presently has an average rating of "Hold" and a consensus target price of $109.20.

Paychex Company Profile

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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