Guinness Asset Management LTD Has $247.65 Million Stock Holdings in Paychex, Inc. $PAYX

Key Points

• Guinness Asset Management LTD reduced its holdings in Paychex, Inc. by 2.6% in the first quarter, now owning 1,606,726 shares valued at approximately $247.6 million.
• Paychex reported $1.19 earnings per share for the last quarter, matching analysts' estimates, and had a revenue of $1.43 billion, exceeding expectations.
• The company declared a quarterly dividend of $1.08, with an annualized yield of 3.2%, and a payout ratio of 94.53%.

Guinness Asset Management LTD trimmed its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,606,726 shares of the business services provider's stock after selling 43,032 shares during the quarter. Paychex accounts for 4.8% of Guinness Asset Management LTD's portfolio, making the stock its 4th largest position. Guinness Asset Management LTD owned about 0.45% of Paychex worth $247,649,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in Paychex by 118.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock valued at $21,117,000 after acquiring an additional 74,245 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Paychex by 32.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock valued at $18,404,000 after purchasing an additional 29,320 shares during the period. MWA Asset Management raised its position in shares of Paychex by 6.5% in the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock valued at $659,000 after purchasing an additional 262 shares during the period. Fifth Third Wealth Advisors LLC raised its position in shares of Paychex by 15.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider's stock valued at $990,000 after purchasing an additional 843 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Paychex by 7.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider's stock valued at $1,174,000 after purchasing an additional 502 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Performance

Paychex stock traded down $3.14 on Monday, hitting $131.97. The company's stock had a trading volume of 2,194,963 shares, compared to its average volume of 2,131,776. Paychex, Inc. has a one year low of $131.77 and a one year high of $161.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average price of $140.44 and a 200-day moving average price of $146.52. The firm has a market cap of $47.46 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 3.09 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. On average, equities analysts anticipate 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 was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, July 21st. Paychex's payout ratio is currently 94.53%.

Insider Transactions at Paychex

In related news, Chairman Martin Mucci sold 97,526 shares of Paychex stock in a transaction dated Thursday, July 10th. The stock was 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. The trade was a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value 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 $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PAYX. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the stock a "sector perform" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Paychex from $148.00 to $153.00 and gave the stock an "underweight" rating in a research note on Thursday, August 14th. Morgan Stanley lowered their price objective on shares of Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Friday, June 27th. UBS Group lowered their price objective on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, June 26th. Finally, BMO Capital Markets began coverage on shares of Paychex in a research note on Thursday, July 10th. They issued a "market perform" rating and a $160.00 price objective on the stock. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $149.70.

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.