Epoch Investment Partners Inc. Sells 34,529 Shares of Paychex, Inc. $PAYX

Key Points

• Epoch Investment Partners Inc. has reduced its stake in Paychex, Inc. by 1.8%, selling 34,529 shares, and now holds 1,841,132 shares worth approximately $284 million.
• Paychex has set a $1.08 quarterly dividend with a recent dividend yield of 3.1%, paid out to stockholders of record on July 21st.
• Five firms have revised their price targets for Paychex, with consensus estimates suggesting a target of $149.70 and a general "Hold" rating from analysts.

Epoch Investment Partners Inc. cut its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,841,132 shares of the business services provider's stock after selling 34,529 shares during the quarter. Paychex makes up approximately 1.5% of Epoch Investment Partners Inc.'s portfolio, making the stock its 5th largest holding. Epoch Investment Partners Inc. owned 0.51% of Paychex worth $284,050,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in shares of Paychex by 118.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock valued at $21,117,000 after purchasing an additional 74,245 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Paychex by 32.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock valued at $18,404,000 after purchasing an additional 29,320 shares during the last quarter. MWA Asset Management grew its position in shares of Paychex by 6.5% in the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock valued at $659,000 after purchasing an additional 262 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Paychex by 15.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider's stock valued at $990,000 after purchasing an additional 843 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Paychex by 7.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider's stock valued at $1,174,000 after purchasing an additional 502 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paychex

In other news, CEO John B. Gibson sold 12,370 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $11,602,669.60. The trade was a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Martin Mucci sold 97,526 shares of the business's stock in a transaction on Thursday, July 10th. The stock was 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 in the company, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.

Paychex Trading Up 0.1%

PAYX stock traded up $0.07 on Thursday, hitting $138.72. 1,681,427 shares of the company were exchanged, compared to its average volume of 2,276,607. Paychex, Inc. has a twelve month low of $128.92 and a twelve month high of $161.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28. The business's fifty day moving average is $142.67 and its two-hundred day moving average is $147.50. The stock has a market capitalization of $49.97 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 3.18 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings data 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. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Paychex has set its FY 2026 guidance at EPS. As a group, research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on PAYX shares. Barclays set a $155.00 price target on shares of Paychex and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Jefferies Financial Group set a $140.00 price objective on shares of Paychex and gave the company a "hold" rating in a research note on Thursday, June 26th. Morgan Stanley reduced their price objective on shares of Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Friday, June 27th. Stifel Nicolaus reduced their price objective on shares of Paychex from $156.00 to $152.00 and set a "hold" rating on the stock in a research note on Thursday, June 26th. Finally, 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. Ten equities research 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 stock currently has a consensus rating of "Reduce" and a consensus price target of $149.70.

About Paychex

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.