EP Wealth Advisors LLC Takes $1.33 Million Position in Paychex, Inc. $PAYX

EP Wealth Advisors LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,553 shares of the business services provider's stock, valued at approximately $1,333,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new position in Paychex in the second quarter valued at approximately $14,488,000. Callan Family Office LLC acquired a new stake in Paychex during the second quarter worth approximately $2,928,000. Keating Financial Advisory Services Inc. acquired a new stake in Paychex during the second quarter worth approximately $64,000. Allworth Financial LP purchased a new stake in shares of Paychex during the 2nd quarter worth approximately $1,967,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Paychex during the 2nd quarter worth approximately $2,785,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

Shares of Paychex stock opened at $124.47 on Monday. The firm's fifty day simple moving average is $111.08 and its 200-day simple moving average is $99.99. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $141.19. The stock has a market capitalization of $44.27 billion, a price-to-earnings ratio of 25.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping 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 firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the business earned $1.19 EPS. Paychex's quarterly 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. As a group, equities analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be paid a dividend of $1.19 per share. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 3.8%. Paychex's dividend payout ratio is 97.34%.

Insider Transactions at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the sale, the director directly owned 67,364 shares of the company's stock, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer directly owned 18,547 shares of the company's stock, valued at $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

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

About Paychex

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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