Lombard Odier Asset Management Switzerland SA Cuts Holdings in Paychex, Inc. $PAYX

Lombard Odier Asset Management Switzerland SA decreased its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 75.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,914 shares of the business services provider's stock after selling 8,900 shares during the period. Lombard Odier Asset Management Switzerland SA's holdings in Paychex were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new position in Paychex in the 4th quarter worth about $31,000. Cornerstone Planning Group LLC lifted its stake in Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider's stock valued at $30,000 after acquiring an additional 268 shares during the period. Kingdom Financial Group LLC. purchased a new stake in shares of Paychex during the 4th quarter valued at about $33,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Paychex during the 4th quarter valued at about $34,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Paychex in the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Insider Buying and Selling at Paychex

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

Paychex Stock Performance

PAYX opened at $122.13 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a market cap of $43.44 billion, a price-to-earnings ratio of 24.98 and a beta of 0.84. The company's 50 day moving average is $103.59 and its 200 day moving average is $98.46. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $148.00.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The firm'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. On average, equities research analysts predict that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, July 28th. Paychex's dividend payout ratio is 97.34%.

Analysts Set New Price Targets

PAYX has been the subject of several research reports. UBS Group boosted their price objective on shares of Paychex from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price on shares of Paychex from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. Citigroup raised shares of Paychex from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $99.00 to $140.00 in a research report on Monday, June 15th. JPMorgan Chase & Co. boosted their target price on shares of Paychex from $100.00 to $105.00 and gave the company an "underweight" rating in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Paychex in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $107.53.

Paychex Company 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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