Paychex, Inc. $PAYX Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,387 shares of the business services provider's stock after purchasing an additional 2,797 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Paychex were worth $3,693,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Summit Wealth Partners LLC lifted its position in Paychex by 2.4% during the 1st quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider's stock worth $467,000 after acquiring an additional 70 shares during the period. LGT Group Foundation grew its stake in shares of Paychex by 2.8% in the 1st quarter. LGT Group Foundation now owns 2,528 shares of the business services provider's stock valued at $390,000 after purchasing an additional 70 shares during the last quarter. Golden State Equity Partners grew its stake in shares of Paychex by 0.9% in the 1st quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider's stock valued at $1,176,000 after purchasing an additional 71 shares during the last quarter. Palumbo Wealth Management LLC grew its stake in shares of Paychex by 2.4% in the 1st quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider's stock valued at $492,000 after purchasing an additional 74 shares during the last quarter. Finally, King Wealth Management Group grew its stake in shares of Paychex by 4.7% in the 1st quarter. King Wealth Management Group now owns 1,669 shares of the business services provider's stock valued at $257,000 after purchasing an additional 75 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings upgraded Paychex from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Jefferies Financial Group set a $130.00 target price on Paychex in a research note on Tuesday, September 30th. Morgan Stanley lowered their target price on Paychex from $148.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. Citigroup lowered their target price on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. Finally, UBS Group lowered their target price on Paychex from $140.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $141.29.

Insider Transactions at Paychex

In related news, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the completion of the transaction, the chief executive officer directly owned 81,755 shares of the company's stock, valued at approximately $11,602,669.60. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.80% of the company's stock.

Paychex Stock Up 1.5%

PAYX opened at $127.42 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50 day simple moving average of $133.54 and a 200-day simple moving average of $143.46. The stock has a market capitalization of $45.86 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.87 and a beta of 0.92. Paychex, Inc. has a 12 month low of $119.02 and a 12 month high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The company's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 annualized dividend and a yield of 3.4%. Paychex's payout ratio is currently 97.08%.

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.

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