Paychex, Inc. $PAYX Shares Purchased by VestGen Advisors LLC

Key Points

• VestGen Advisors increased its Paychex stake by 249.7% in the third quarter, holding 18,675 shares valued at approximately $1.84 million. Institutional investors and hedge funds collectively own 83.47% of the company.
• Paychex reported quarterly earnings of $1.34 per share, exceeding estimates of $1.32, while revenue rose 5.9% year over year to $1.63 billion. The company also declared a quarterly dividend of $1.19 per share, representing a 4.2% yield.
• Paychex shares opened at $112.12, while analysts maintain an average “Hold” rating and a consensus price target of $127.88. Director Joseph Velli separately sold 7,839 shares for roughly $844,000.

VestGen Advisors LLC boosted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 249.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,675 shares of the business services provider's stock after buying an additional 13,334 shares during the period. VestGen Advisors LLC's holdings in Paychex were worth $1,840,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vantage Investment Partners LLC bought a new position in shares of Paychex during the 3rd quarter worth about $11,747,000. Asset Management One Co. Ltd. raised its position in shares of Paychex by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 153,229 shares of the business services provider's stock valued at $15,093,000 after buying an additional 3,199 shares during the last quarter. Latitude Advisors LLC acquired a new position in shares of Paychex during the third quarter valued at about $41,000. Miller Howard Investments Inc. NY lifted its stake in shares of Paychex by 2.5% in the third quarter. Miller Howard Investments Inc. NY now owns 516,109 shares of the business services provider's stock valued at $50,837,000 after buying an additional 12,486 shares during the period. Finally, Hourglass Capital LLC acquired a new stake in Paychex during the third quarter worth about $5,776,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paychex

In other news, Director Joseph Velli sold 7,839 shares of the firm's stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the completion of the sale, the director directly owned 81,725 shares in the company, valued at approximately $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company's stock.

Paychex Trading Up 2.5%

Shares of PAYX stock opened at $112.12 on Friday. The company has a market capitalization of $39.91 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.29 and a beta of 0.86. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $127.98. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $112.80 and a 200 day moving average price of $103.59.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.22 earnings per share. The company's quarterly revenue was up 5.9% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. Research analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, October 26th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, October 26th. Paychex's dividend payout ratio is presently 94.44%.

Wall Street Analyst Weigh In

PAYX has been the topic of several research reports. Raymond James Financial upgraded Paychex from a "market perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded Paychex from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $105.00 to $115.00 in a research report on Thursday, September 24th. Citigroup lifted their price objective on Paychex from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Bank of America lowered their price objective on Paychex from $450.00 to $225.00 in a research report on Wednesday, July 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Paychex in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $127.88.

Paychex Profile

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.

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