Paychex, Inc. $PAYX Shares Sold by Cypress Capital Group

Key Points

• Cypress Capital Group reduced its stake in Paychex, Inc. by 4.5% in Q2, owning 45,065 shares valued at approximately $6.56 million post-sale.
• CEO John B. Gibson sold 12,370 shares at an average price of $141.92, resulting in a total of $1,755,550 and a 13.14% decrease in his ownership.
• Paychex announced a quarterly dividend of $1.08 per share, payable on November 26th, translating to an annual yield of 3.4% and a high payout ratio of 97.08%.

Cypress Capital Group trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,065 shares of the business services provider's stock after selling 2,116 shares during the quarter. Cypress Capital Group's holdings in Paychex were worth $6,555,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in Paychex by 118.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock worth $21,117,000 after purchasing an additional 74,245 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Paychex by 32.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock worth $18,404,000 after purchasing an additional 29,320 shares in the last quarter. Martin Capital Partners LLC boosted its position in Paychex by 166.9% during the second quarter. Martin Capital Partners LLC now owns 6,340 shares of the business services provider's stock worth $922,000 after purchasing an additional 3,965 shares in the last quarter. MWA Asset Management boosted its position in Paychex by 6.5% during the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock worth $659,000 after purchasing an additional 262 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Paychex during the first quarter worth $832,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer 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 filing with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

Shares of NASDAQ:PAYX opened at $125.55 on Monday. The firm has a market capitalization of $45.18 billion, a PE ratio of 28.21, a P/E/G ratio of 2.87 and a beta of 0.92. 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 moving average of $133.78 and a two-hundred day moving average of $143.63. 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 earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.02. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on Paychex from $140.00 to $126.00 and set a "hold" rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings upgraded Paychex from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Stephens upgraded Paychex to a "hold" rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their price objective on Paychex from $153.00 to $140.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group set a $130.00 price objective on Paychex in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Paychex currently has an average rating of "Reduce" and a consensus price target of $141.29.

Paychex Company 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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.