MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Position in Paychex, Inc. $PAYX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its shareholding in Paychex, Inc. by 4.3% during Q1, now owning 301,197 shares valued at approximately $46.47 million.
• Paychex reported earnings of $1.19 per share for the quarter, meeting analysts' expectations, with total revenue of $1.43 billion surpassing the forecast of $1.38 billion.
• The company recently declared a quarterly dividend of $1.08 per share, representing an annualized yield of 3.2%, with a dividend payout ratio of 94.53%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 301,197 shares of the business services provider's stock after buying an additional 12,307 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of Paychex worth $46,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC boosted its position in shares of Paychex by 2.4% during the first quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider's stock worth $467,000 after buying an additional 70 shares during the period. LGT Group Foundation boosted its position in shares of Paychex by 2.8% during the first quarter. LGT Group Foundation now owns 2,528 shares of the business services provider's stock worth $390,000 after buying an additional 70 shares during the period. Golden State Equity Partners boosted its position in shares of Paychex by 0.9% during the first quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider's stock worth $1,176,000 after buying an additional 71 shares during the period. Palumbo Wealth Management LLC boosted its position in shares of Paychex by 2.4% during the first quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider's stock worth $492,000 after buying an additional 74 shares during the period. Finally, King Wealth Management Group boosted its position in shares of Paychex by 4.7% during the first quarter. King Wealth Management Group now owns 1,669 shares of the business services provider's stock worth $257,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Stock Down 1.4%

Paychex stock opened at $135.44 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10. The stock's fifty day simple moving average is $141.62 and its 200-day simple moving average is $147.06. The firm has a market capitalization of $48.71 billion, a P/E ratio of 29.64, a P/E/G ratio of 3.10 and a beta of 0.91. Paychex, Inc. has a twelve month low of $128.92 and a twelve month high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $1.12 earnings per share. Paychex has set its FY 2026 guidance at EPS. As a group, equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were paid a $1.08 dividend. The ex-dividend date was Monday, July 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.2%. Paychex's dividend payout ratio (DPR) is currently 94.53%.

Insiders Place Their Bets

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 81,755 shares in the company, valued at $11,602,669.60. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin Mucci sold 97,526 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the completion of the sale, the chairman owned 446,917 shares in the company, valued at approximately $64,878,940.89. This represents 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 owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research report on Thursday, June 26th. Barclays set a $155.00 price target on Paychex and gave the stock an "equal weight" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. upped their price objective on Paychex from $148.00 to $153.00 and gave the stock an "underweight" rating in a research report on Thursday, August 14th. UBS Group cut their price objective on Paychex from $155.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, June 26th. Finally, Citigroup cut their price objective on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $149.70.

About Paychex

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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