Kingswood Wealth Advisors LLC Has $304,000 Position in Paychex, Inc. $PAYX

Key Points

• Kingswood Wealth Advisors LLC significantly reduced its stake in Paychex, Inc. by 81.2%, now holding 2,092 shares valued at $304,000 as per their latest SEC filing.
• Paychex reported earnings of $1.22 per share, exceeding analysts' expectations, with revenue up 16.8% year-over-year in their latest earnings report.
• The company declared a quarterly dividend of $1.08 per share, resulting in a dividend yield of 3.4%, with the payout scheduled for November 26th.

Kingswood Wealth Advisors LLC cut its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 81.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,092 shares of the business services provider's stock after selling 9,040 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Paychex were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of Paychex in the 1st quarter valued at approximately $34,000. Quarry LP acquired a new position in Paychex during the 1st quarter worth approximately $34,000. Alpine Bank Wealth Management acquired a new position in Paychex during the 1st quarter worth approximately $34,000. Tsfg LLC increased its position in Paychex by 122.3% during 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 in the last quarter. Finally, Nova Wealth Management Inc. acquired a new position in Paychex during the 1st quarter worth approximately $38,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Trading Up 0.3%

PAYX opened at $125.55 on Friday. Paychex, Inc. has a fifty-two week low of $119.02 and a fifty-two week high of $161.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $45.18 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 2.86 and a beta of 0.92. The company's 50 day moving average price is $133.78 and its two-hundred day moving average price is $143.73.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.02. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 7th. Paychex's dividend payout ratio is currently 97.08%.

Insider Activity at Paychex

In other news, CEO John B. Gibson sold 12,370 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PAYX. UBS Group lowered their price objective on shares of Paychex from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, October 2nd. Morgan Stanley lowered their price objective on shares of Paychex from $148.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. TD Cowen lowered their price objective on shares of Paychex from $140.00 to $126.00 and set a "hold" rating for the company in a research report on Wednesday, October 1st. Jefferies Financial Group set a $130.00 price objective on shares of Paychex in a research report on Tuesday, September 30th. Finally, Stephens upgraded shares of Paychex to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $141.29.

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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