Twin Tree Management LP Sells 13,633 Shares of Paychex, Inc. $PAYX

Key Points

• Twin Tree Management LP significantly reduced its holdings in Paychex, selling 13,633 shares and now owning only 2,014 shares valued at approximately $293,000.
• Several institutional investors, including Ritholtz Wealth Management and Cornerstone Wealth Group, increased their stakes in Paychex during the same period, indicating ongoing interest in the stock.
• Paychex reported a quarterly EPS of $1.22, surpassing estimates, and announced a quarterly dividend of $1.08 per share, highlighting its strong financial performance despite a high payout ratio of 97.08%.

Twin Tree Management LP trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 87.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,014 shares of the business services provider's stock after selling 13,633 shares during the period. Twin Tree Management LP's holdings in Paychex were worth $293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ritholtz Wealth Management boosted its holdings in shares of Paychex by 7.2% during the 2nd quarter. Ritholtz Wealth Management now owns 23,878 shares of the business services provider's stock worth $3,473,000 after buying an additional 1,604 shares in the last quarter. Cornerstone Wealth Group LLC boosted its holdings in shares of Paychex by 10.0% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 1,943 shares of the business services provider's stock worth $283,000 after buying an additional 176 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Paychex by 8.5% during the 2nd quarter. NorthRock Partners LLC now owns 4,178 shares of the business services provider's stock worth $608,000 after buying an additional 327 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Paychex by 7.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 65,697 shares of the business services provider's stock worth $9,556,000 after buying an additional 4,304 shares in the last quarter. Finally, MOKAN Wealth Management Inc. lifted its holdings in shares of Paychex by 7.3% in the 2nd quarter. MOKAN Wealth Management Inc. now owns 8,929 shares of the business services provider's stock worth $1,300,000 after purchasing an additional 604 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAYX has been the topic of a number of recent research reports. Wolfe Research cut their target price on Paychex from $145.00 to $140.00 and set an "underperform" rating on the stock in a report on Friday, September 26th. Weiss Ratings upgraded Paychex from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Stifel Nicolaus cut their target price on Paychex from $142.00 to $137.00 and set a "hold" rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. cut their target price on Paychex from $153.00 to $140.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. Finally, Robert W. Baird cut their target price on Paychex from $153.00 to $148.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $141.29.

Paychex Trading Up 0.1%

NASDAQ PAYX opened at $126.56 on Friday. The firm has a market capitalization of $45.55 billion, a P/E ratio of 28.44, a PEG ratio of 2.89 and a beta of 0.92. The business has a fifty day simple moving average of $132.52 and a 200 day simple moving average of $142.87. Paychex, Inc. has a 12 month low of $119.02 and a 12 month high of $161.24. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.15.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.Paychex's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

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

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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