BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in Paychex, Inc. $PAYX

Key Points

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BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 28.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 422,413 shares of the business services provider's stock after buying an additional 92,778 shares during the quarter. Paychex makes up about 0.7% of BI Asset Management Fondsmaeglerselskab A S's holdings, making the stock its 26th largest position. BI Asset Management Fondsmaeglerselskab A S owned 0.12% of Paychex worth $65,170,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Paychex by 0.9% in the first quarter. Vanguard Group Inc. now owns 31,807,843 shares of the business services provider's stock valued at $4,907,314,000 after buying an additional 286,818 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Paychex by 7.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider's stock valued at $1,663,474,000 after acquiring an additional 737,542 shares in the last quarter. Northern Trust Corp boosted its stake in Paychex by 3.8% in the first quarter. Northern Trust Corp now owns 4,989,182 shares of the business services provider's stock valued at $769,731,000 after acquiring an additional 181,628 shares in the last quarter. Invesco Ltd. boosted its stake in Paychex by 0.7% in the first quarter. Invesco Ltd. now owns 4,135,296 shares of the business services provider's stock valued at $637,993,000 after acquiring an additional 30,670 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Paychex by 14.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,130,781 shares of the business services provider's stock valued at $438,998,000 after acquiring an additional 401,552 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

Shares of PAYX traded up $2.40 during mid-day trading on Friday, hitting $140.81. 2,066,281 shares of the company's stock were exchanged, compared to its average volume of 2,159,591. Paychex, Inc. has a fifty-two week low of $127.76 and a fifty-two week high of $161.24. The firm has a market capitalization of $50.73 billion, a P/E ratio of 30.81, a P/E/G ratio of 3.17 and a beta of 0.91. The business's 50 day moving average is $143.73 and its two-hundred day moving average is $147.78. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Paychex has set its FY 2026 guidance at EPS. On average, equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, July 21st will be given a $1.08 dividend. The ex-dividend date is Monday, July 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.1%. Paychex's dividend payout ratio (DPR) is presently 94.53%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the company a "sector perform" rating in a research note on Tuesday, June 24th. Barclays set a $155.00 price objective on shares of Paychex and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. upped their price objective on shares of Paychex from $148.00 to $153.00 and gave the company an "underweight" rating in a research note on Thursday, August 14th. UBS Group decreased their price objective on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, June 26th. Finally, Stifel Nicolaus decreased their price objective on shares of Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, June 26th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Paychex currently has an average rating of "Reduce" and a consensus target price of $149.70.

Insider Transactions at Paychex

In related news, CEO John B. Gibson sold 12,370 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the completion of the sale, the chief executive officer owned 81,755 shares in the company, valued at $11,602,669.60. This trade represents a 13.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin Mucci sold 97,526 shares of the firm'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 sale, the chairman owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their position. The disclosure for this sale can be found here. 11.40% of the stock is owned by company insiders.

Paychex Company Profile

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.