Nykredit A S Takes Position in Paychex, Inc. $PAYX

Key Points

• Nykredit A/S acquired 127,845 Paychex shares during the second quarter, worth approximately $12.6 million. Institutional investors collectively own 83.47% of the company.
• Paychex reported quarterly earnings of $1.32 per share and revenue of $1.61 billion, exceeding analyst estimates, while revenue increased 12.5% year over year. The company also pays an annualized dividend of $4.76 per share, yielding about 4.1%.
• Analysts maintain a consensus “Hold” rating with an average price target of $126.76, compared with the stock’s reported price of $116.14.

Nykredit A S acquired a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 127,845 shares of the business services provider's stock, valued at approximately $12,571,000.

A number of other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust raised its position in Paychex by 6.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,519 shares of the business services provider's stock worth $149,000 after buying an additional 90 shares during the last quarter. Armbruster Capital Management Inc. lifted its position in shares of Paychex by 0.5% during the 1st quarter. Armbruster Capital Management Inc. now owns 20,299 shares of the business services provider's stock valued at $1,870,000 after acquiring an additional 107 shares during the period. Seelaus Asset Management LLC boosted its position in Paychex by 2.0% during the first quarter. Seelaus Asset Management LLC now owns 5,464 shares of the business services provider's stock worth $503,000 after purchasing an additional 107 shares in the last quarter. United Community Bank boosted its position in shares of Paychex by 3.1% in the 2nd quarter. United Community Bank now owns 3,635 shares of the business services provider's stock worth $357,000 after buying an additional 110 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC lifted its holdings in shares of Paychex by 4.3% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 2,678 shares of the business services provider's stock valued at $247,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Stock Performance

Shares of PAYX stock opened at $116.14 on Monday. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $131.96. The company has a market cap of $41.31 billion, a P/E ratio of 23.75, a PEG ratio of 2.44 and a beta of 0.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average of $118.96 and a two-hundred day moving average of $103.78.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm's revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, analysts anticipate that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, July 28th were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, July 28th. Paychex's dividend payout ratio is 97.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PAYX shares. Stifel Nicolaus increased their price objective on Paychex from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, September 9th. Jefferies Financial Group boosted their price objective on shares of Paychex from $105.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, August 12th. Citigroup increased their target price on shares of Paychex from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Paychex from $95.00 to $111.00 and gave the company an "underweight" rating in a research report on Wednesday, September 9th. Finally, 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 report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $126.76.

Insider Buying and Selling at Paychex

In related news, Director Joseph Tucci sold 3,907 shares of Paychex stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the sale, the director directly owned 67,364 shares in the company, valued at $6,618,513. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Schrader sold 2,600 shares of the firm's stock in a transaction dated Monday, July 20th. The shares were 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company's stock.

Paychex Profile

Paychex, Inc is a provider of payroll, human resources, and workforce management solutions for businesses of varying sizes. Its offerings include payroll processing, tax administration, time and attendance tracking, employee benefits administration, retirement services, workers' compensation and business insurance, recruiting, and compliance support.

The company also provides professional employer organization services, helping businesses manage employment administration and human resources through an integrated platform.

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