Swedbank AB Has $24.62 Million Position in Paychex, Inc. $PAYX

Key Points

• Swedbank AB increased its position in Paychex, Inc., lifting its stake by 1.7% to hold 159,590 shares worth approximately $24.62 million.
• Paychex reported a Q1 EPS of $1.19, matching analyst expectations, and had a revenue of $1.43 billion against estimates of $1.38 billion.
• The company recently announced a quarterly dividend of $1.08 per share, with a dividend yield of 3.2% and a payout ratio of 94.53%.

Swedbank AB lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 159,590 shares of the business services provider's stock after buying an additional 2,721 shares during the quarter. Swedbank AB's holdings in Paychex were worth $24,622,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAYX. MorganRosel Wealth Management LLC acquired a new position in shares of Paychex in the 1st quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Paychex in the 1st quarter worth approximately $34,000. Alpine Bank Wealth Management acquired a new position in shares of Paychex in the 1st quarter worth approximately $34,000. Tsfg LLC lifted its position in shares of Paychex by 122.3% in the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider's stock worth $35,000 after purchasing an additional 126 shares during the period. Finally, Nova Wealth Management Inc. acquired a new position in shares of Paychex in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Paychex Stock Performance

Shares of PAYX stock opened at $135.11 on Friday. The firm has a market capitalization of $48.59 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91. The firm has a fifty day simple moving average of $140.44 and a two-hundred day simple moving average of $146.53. 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 12 month low of $131.83 and a 12 month high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal 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. The ex-dividend date was Monday, July 21st. This represents a $4.32 annualized dividend and a dividend yield of 3.2%. Paychex's dividend payout ratio is presently 94.53%.

Analyst Ratings Changes

PAYX has been the subject of several research analyst reports. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the company a "sector perform" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $148.00 to $153.00 and gave the company an "underweight" rating in a research note on Thursday, August 14th. Stifel Nicolaus lowered their price objective on shares of Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, June 26th. BMO Capital Markets initiated 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 for the company. Finally, Barclays set a $155.00 price objective on shares of Paychex and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $149.70.

Insider Buying and Selling at Paychex

In other news, CEO John B. Gibson sold 12,370 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 81,755 shares in the company, valued at $11,602,669.60. This represents a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Martin Mucci sold 97,526 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the completion of the sale, the chairman owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their position. 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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