Paychex, Inc. $PAYX Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in Paychex, Inc. by 35.4%, selling 4,757 shares and decreasing their position to 8,697 shares valued at approximately $1.34 million.
• Paychex recently reported earnings of $1.19 per share, exceeding analysts' expectations with revenues of $1.43 billion for the latest quarter.
• The company declared a quarterly dividend of $1.08 per share, providing an annual yield of 3.2% and reflecting a dividend payout ratio of 94.53%.

Integrated Wealth Concepts LLC cut its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 35.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,697 shares of the business services provider's stock after selling 4,757 shares during the period. Integrated Wealth Concepts LLC's holdings in Paychex were worth $1,342,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PAYX. Brighton Jones LLC raised its holdings in Paychex by 26.3% in the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after acquiring an additional 1,190 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider's stock worth $566,000 after buying an additional 117 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Paychex by 6.7% during the 4th quarter. Lazard Asset Management LLC now owns 51,820 shares of the business services provider's stock worth $7,265,000 after buying an additional 3,276 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Paychex by 2.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 288,890 shares of the business services provider's stock worth $40,508,000 after buying an additional 6,656 shares during the last quarter. Finally, NorthRock Partners LLC acquired a new stake in shares of Paychex during the 4th quarter worth $512,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Down 1.0%

Shares of Paychex stock opened at $133.07 on Thursday. The company has a fifty day moving average price of $140.91 and a 200 day moving average price of $146.76. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10. Paychex, Inc. has a twelve month low of $129.20 and a twelve month high of $161.24. The stock has a market cap of $47.85 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 3.08 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, hitting analysts' consensus estimates of $1.19. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same period in the prior year, the company earned $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, July 21st. Paychex's dividend payout ratio is presently 94.53%.

Analysts Set New Price Targets

A number of analysts have recently commented on PAYX shares. Royal Bank Of Canada set a $165.00 price objective on Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. Citigroup dropped their price objective on Paychex from $158.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their price objective on Paychex from $148.00 to $153.00 and gave the stock an "underweight" rating in a report on Thursday, August 14th. Barclays set a $155.00 price objective on Paychex and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Finally, UBS Group dropped their price objective on Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $149.70.

Insider Transactions at Paychex

In other Paychex news, Chairman Martin Mucci sold 97,526 shares of the company's 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 of the company's stock, valued at $64,878,940.89. This represents a 17.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John B. Gibson sold 12,370 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 0.80% of the company's stock.

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.

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