Norinchukin Bank The Raises Stock Holdings in Paychex, Inc. $PAYX

Key Points

• Norinchukin Bank increased its stake in Paychex, Inc. by 44.8% in Q1, now holding 30,494 shares valued at approximately $4.71 million.
• CEO John B. Gibson and Chairman Martin Mucci sold shares, decreasing their ownership by 13.14% and 17.91%, respectively, with Gibson retaining shares worth over $11.6 million.
• Paychex reported a quarterly earnings per share of $1.19, meeting analysts' expectations, with a revenue of $1.43 billion for the quarter.

Norinchukin Bank The lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 44.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,494 shares of the business services provider's stock after buying an additional 9,440 shares during the period. Norinchukin Bank The's holdings in Paychex were worth $4,705,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Paychex during the 1st quarter valued at about $34,000. MorganRosel Wealth Management LLC purchased a new position in shares of Paychex during the 1st quarter valued at about $34,000. Tsfg LLC raised its holdings in shares of Paychex by 122.3% during the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider's stock valued at $35,000 after buying an additional 126 shares in the last quarter. HWG Holdings LP purchased a new position in shares of Paychex during the 1st quarter valued at about $46,000. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Paychex by 381.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 409 shares of the business services provider's stock valued at $57,000 after buying an additional 324 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

PAYX stock traded down $2.31 during trading on Monday, reaching $138.50. The stock had a trading volume of 1,707,746 shares, compared to its average volume of 2,151,839. Paychex, Inc. has a 52 week low of $128.92 and a 52 week high of $161.24. The stock's 50 day moving average is $143.73 and its two-hundred day moving average is $147.75. 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 firm has a market cap of $49.89 billion, a PE ratio of 30.31, a PEG ratio of 3.23 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its 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 the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. Paychex has set its FY 2026 guidance at EPS. As a group, equities analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, July 21st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.1%. Paychex's dividend payout ratio is currently 94.53%.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYX. Morgan Stanley reduced their target price 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. Citigroup dropped their target price on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday. Royal Bank Of Canada set a $165.00 target price on Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. BMO Capital Markets assumed coverage on Paychex in a report on Thursday, July 10th. They issued a "market perform" rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on Paychex from $156.00 to $152.00 and set a "hold" rating on the stock 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 stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $149.70.

Insider Transactions at Paychex

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 81,755 shares of the company's stock, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Martin Mucci sold 97,526 shares of the 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 in the company, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their position. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by corporate insiders.

Paychex 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.