Longfellow Investment Management Co. LLC Makes New Investment in Paychex, Inc. $PAYX

Longfellow Investment Management Co. LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,186 shares of the business services provider's stock, valued at approximately $1,297,000.

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Paychex by 26.3% in the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after buying an additional 1,190 shares during the period. Bison Wealth LLC raised its holdings in Paychex by 3.0% in the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider's stock valued at $566,000 after acquiring an additional 117 shares in the last quarter. Woodline Partners LP acquired a new stake in Paychex in the first quarter valued at approximately $3,333,000. NewEdge Advisors LLC lifted its stake in Paychex by 3.2% in the second quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider's stock worth $5,976,000 after acquiring an additional 1,290 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Paychex by 47.1% in the second quarter. Sei Investments Co. now owns 156,680 shares of the business services provider's stock worth $22,790,000 after acquiring an additional 50,169 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Price Performance

PAYX stock opened at $122.02 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $141.19. The company's 50 day moving average is $108.92 and its two-hundred day moving average is $99.34. The stock has a market cap of $43.40 billion, a P/E ratio of 24.95 and a beta of 0.81.

Paychex (NASDAQ:PAYX - Get Free Report) last issued 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 business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The company's revenue for the quarter was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on PAYX. Royal Bank Of Canada reissued a "sector perform" rating on shares of Paychex in a research report on Thursday, May 28th. UBS Group lifted their price objective on shares of Paychex from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Paychex from $107.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on Paychex from $100.00 to $105.00 and gave the company an "underweight" rating in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded Paychex from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $109.20.

Insider Transactions at Paychex

In other news, 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 completion of the sale, the director directly owned 67,364 shares of the company's stock, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the sale, the chief financial officer directly owned 18,547 shares of the company's stock, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

About Paychex

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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