Jump Financial LLC Has $25.31 Million Holdings in Paychex, Inc. $PAYX

Key Points

• Jump Financial LLC significantly increased its holdings in Paychex, Inc. by 2,823.8%, owning 164,055 shares valued at approximately $25.31 million by the end of the first quarter.
• Paychex recently reported earnings of $1.19 EPS for the quarter, meeting analysts' expectations, with revenues of $1.43 billion, surpassing estimates of $1.38 billion.
• The company announced a quarterly dividend of $1.08 per share, resulting in an annualized dividend of $4.32, representing a yield of 3.1% with a payout ratio of 94.53%.

Jump Financial LLC grew its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2,823.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,055 shares of the business services provider's stock after purchasing an additional 158,444 shares during the period. Jump Financial LLC's holdings in Paychex were worth $25,310,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in Paychex in the 1st quarter worth about $34,000. Alpine Bank Wealth Management acquired a new position in Paychex in the 1st quarter worth about $34,000. Tsfg LLC increased its position in Paychex by 122.3% in the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider's stock worth $35,000 after purchasing an additional 126 shares during the last quarter. HWG Holdings LP acquired a new position in Paychex in the 1st quarter worth about $46,000. Finally, Olde Wealth Management LLC acquired a new position in Paychex in the 1st quarter worth about $59,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO John B. Gibson sold 12,370 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total value of $1,755,550.40. Following the completion of the transaction, the chief executive officer directly owned 81,755 shares of the company's stock, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Martin Mucci sold 97,526 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total value of $14,157,849.42. Following the completion of the transaction, the chairman directly owned 446,917 shares of the company's stock, 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 currently owned by company insiders.

Paychex Stock Performance

Shares of PAYX stock traded up $0.61 during mid-day trading on Wednesday, reaching $138.65. The stock had a trading volume of 1,852,718 shares, compared to its average volume of 2,157,155. The firm's 50 day simple moving average is $143.13 and its 200 day simple moving average is $147.62. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. Paychex, Inc. has a one year low of $128.92 and a one year high of $161.24. The firm has a market cap of $49.95 billion, a PE ratio of 30.34, a P/E/G ratio of 3.17 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, hitting analysts' consensus estimates of $1.19. Paychex had a return on equity of 45.01% and a net margin of 29.75%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. On average, analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Paychex in a research note on Thursday, July 10th. They set a "market perform" rating and a $160.00 price target for the company. Morgan Stanley decreased their price target on Paychex from $150.00 to $148.00 and set an "equal weight" rating for the company in a research note on Friday, June 27th. Stifel Nicolaus decreased their price target on Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, June 26th. Jefferies Financial Group set a $140.00 price target on Paychex and gave the stock a "hold" rating in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada set a $165.00 price target on Paychex and gave the stock 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 assigned a Sell rating to the stock. According to MarketBeat, Paychex currently has an average rating of "Reduce" and a consensus price target of $149.70.

Paychex 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.