Paychex, Inc. $PAYX Holdings Raised by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Paychex, Inc. by 1.9%, acquiring an additional 2,300 shares, bringing its total holdings to 121,180 shares valued at approximately $17.6 million.
• Paychex reported earnings of $1.19 per share, matching analysts' expectations, with revenue of $1.43 billion, exceeding the forecast of $1.38 billion for the quarter.
• The company's recent quarterly dividend of $1.08 reflects a 3.3% yield, with a significant dividend payout ratio of 94.53% as reported.

Mn Services Vermogensbeheer B.V. increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 121,180 shares of the business services provider's stock after buying an additional 2,300 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Paychex were worth $17,627,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Select Equity Group L.P. raised its holdings in shares of Paychex by 99.0% in the first quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider's stock valued at $539,102,000 after purchasing an additional 1,738,372 shares during the last quarter. GAMMA Investing LLC boosted its position in Paychex by 20,236.7% during the first quarter. GAMMA Investing LLC now owns 1,153,089 shares of the business services provider's stock worth $177,899,000 after purchasing an additional 1,147,419 shares during the period. Nuveen LLC bought a new position in Paychex during the first quarter worth about $134,192,000. Charles Schwab Investment Management Inc. boosted its position in Paychex by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider's stock worth $1,663,474,000 after purchasing an additional 737,542 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Paychex by 117.6% during the first quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider's stock worth $187,512,000 after purchasing an additional 657,871 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO John B. Gibson sold 12,370 shares of the firm's 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 sale, the chief executive officer directly owned 81,755 shares of the company's stock, valued at $11,602,669.60. This trade represents a 13.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin Mucci sold 97,526 shares of the business's stock in a transaction dated 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 transaction, the chairman directly owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. This trade represents a 17.91% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAYX shares. Citigroup cut their price target on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. Morgan Stanley decreased their price target on Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Friday, June 27th. BMO Capital Markets initiated coverage on Paychex in a report on Thursday, July 10th. They set a "market perform" rating and a $160.00 price target on the stock. Stifel Nicolaus dropped their price target on Paychex from $152.00 to $142.00 and set a "hold" rating on the stock in a research note on Monday. Finally, Jefferies Financial Group set a $140.00 price target on Paychex and gave the company a "hold" rating in a report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $148.20.

Paychex Stock Performance

NASDAQ:PAYX traded down $0.02 during mid-day trading on Monday, hitting $129.98. The company's stock had a trading volume of 728,935 shares, compared to its average volume of 2,177,442. The business's fifty day moving average is $139.08 and its two-hundred day moving average is $145.81. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28. Paychex, Inc. has a 1 year low of $128.23 and a 1 year high of $161.24. The stock has a market cap of $46.74 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 2.98 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, meeting analysts' consensus estimates of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 21st. Paychex's dividend payout ratio is currently 94.53%.

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.