Callan Family Office LLC Makes New $2.93 Million Investment in Paychex, Inc. $PAYX

Callan Family Office LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 29,775 shares of the business services provider's stock, valued at approximately $2,928,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Paychex by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider's stock worth $4,750,669,000 after acquiring an additional 4,583,157 shares during the period. Capital International Investors increased its stake in shares of Paychex by 59.1% during the 4th quarter. Capital International Investors now owns 30,265,174 shares of the business services provider's stock worth $3,395,583,000 after purchasing an additional 11,243,295 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Paychex during the 2nd quarter worth approximately $2,728,970,000. State Street Corp raised its holdings in shares of Paychex by 1.6% in the 4th quarter. State Street Corp now owns 13,988,393 shares of the business services provider's stock worth $1,569,218,000 after purchasing an additional 216,045 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paychex by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,550,173 shares of the business services provider's stock worth $1,295,698,000 after purchasing an additional 263,152 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of PAYX stock opened at $124.47 on Friday. The firm's 50 day moving average is $111.08 and its 200 day moving average is $100.01. The stock has a market capitalization of $44.27 billion, a P/E ratio of 25.45 and a beta of 0.81. Paychex, Inc. has a 12 month low of $85.45 and a 12 month 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.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned $1.19 EPS. Paychex's revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, sell-side analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex's dividend payout ratio (DPR) is presently 97.34%.

Insiders Place Their Bets

In other news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction on Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the business's stock in a transaction 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 in the company, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PAYX shares. JPMorgan Chase & Co. increased 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. Royal Bank Of Canada restated a "sector perform" rating on shares of Paychex in a research note on Thursday, May 28th. Stifel Nicolaus upped their price target on Paychex from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. TD Cowen upped their price target on Paychex from $94.00 to $98.00 and gave the company a "hold" rating in a research report on Monday, June 8th. Finally, Morgan Stanley increased their price target on Paychex from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Paychex currently has an average rating of "Hold" and an average price target 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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