First National Bank of Omaha Invests $1.12 Million in Paychex, Inc. $PAYX

First National Bank of Omaha acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,366 shares of the business services provider's stock, valued at approximately $1,121,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAYX. Cornerstone Planning Group LLC increased its position in Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider's stock worth $30,000 after buying an additional 268 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Paychex in the fourth quarter worth $31,000. Kingdom Financial Group LLC. purchased a new stake in shares of Paychex in the fourth quarter valued at $33,000. Leonteq Securities AG lifted its position in shares of Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider's stock valued at $33,000 after acquiring an additional 347 shares in the last quarter. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of Paychex during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Stock Up 2.1%

Shares of PAYX opened at $122.50 on Thursday. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $141.19. The company's fifty day moving average is $110.13 and its two-hundred day moving average is $99.70. The firm has a market cap of $43.57 billion, a PE ratio of 25.05 and a beta of 0.81. The company has a quick ratio of 1.26, a current 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 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.01. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The business's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders 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 yield of 3.9%. Paychex's dividend payout ratio is currently 97.34%.

Insider Activity

In other news, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph M. Tucci sold 3,907 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the sale, the director owned 67,364 shares of the company's stock, valued at $6,618,513. The trade was a 5.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on PAYX shares. Morgan Stanley lifted their price objective on Paychex from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. Stifel Nicolaus raised their price target on shares of Paychex from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Cantor Fitzgerald reiterated an "underweight" rating and set a $107.00 price target on shares of Paychex in a report on Monday, July 20th. Weiss Ratings raised shares of Paychex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Paychex in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.20.

Paychex 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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