CreativeOne Wealth LLC Reduces Holdings in Paychex, Inc. $PAYX

Key Points

• CreativeOne Wealth LLC reduced its holdings in Paychex, Inc. by 11.4%, now owning 18,800 shares valued at approximately $2.9 million as of their latest SEC filing.
• Numerous hedge funds have adjusted their stakes in Paychex, with Brighton Jones LLC increasing its holdings by 26.3% during the fourth quarter.
• Paychex recently announced a quarterly dividend of $1.08 per share, reflecting a 3.1% yield, with distributions to occur on August 29th.

CreativeOne Wealth LLC reduced its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 11.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,800 shares of the business services provider's stock after selling 2,412 shares during the quarter. CreativeOne Wealth LLC's holdings in Paychex were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PAYX. Brighton Jones LLC grew its holdings in shares of Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock worth $801,000 after buying an additional 1,190 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Paychex during the fourth quarter worth about $227,000. Lido Advisors LLC grew its holdings in shares of Paychex by 2.1% during the fourth quarter. Lido Advisors LLC now owns 7,188 shares of the business services provider's stock worth $1,008,000 after buying an additional 149 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Paychex by 6.7% during the fourth quarter. AQR Capital Management LLC now owns 243,574 shares of the business services provider's stock worth $34,154,000 after buying an additional 15,221 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Paychex during the fourth quarter worth about $971,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PAYX shares. Barclays set a $155.00 price target on shares of Paychex and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. Stifel Nicolaus lowered their price target on shares of Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their target price on shares of Paychex from $148.00 to $153.00 and gave the stock an "underweight" rating in a research report on Thursday, August 14th. Finally, Citigroup decreased their target price on shares of Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $149.70.

Paychex Price Performance

PAYX opened at $138.65 on Thursday. The company's 50 day simple moving average is $142.90 and its 200 day simple moving average is $147.56. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.28 and a current ratio of 1.28. Paychex, Inc. has a 1 year low of $128.92 and a 1 year high of $161.24. The stock has a market capitalization of $49.95 billion, a PE ratio of 30.34, a P/E/G ratio of 3.16 and a beta of 0.91.

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

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, July 21st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, July 21st. Paychex's payout ratio is 94.53%.

Insider Buying and Selling

In other Paychex news, Chairman Martin Mucci sold 97,526 shares of Paychex stock in a transaction that occurred on 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 transaction, the chairman directly owned 446,917 shares of the company's stock, valued at $64,878,940.89. The trade was a 17.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the transaction, the chief executive officer directly owned 81,755 shares in the company, valued at approximately $11,602,669.60. This trade represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.40% of the company's stock.

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.

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