UniSuper Management Pty Ltd Has $20.37 Million Position in Paychex, Inc. $PAYX

Key Points

• UniSuper Management Pty Ltd significantly increased its investment in Paychex, purchasing an additional 105,497 shares, bringing its total holdings to 132,010 shares valued at approximately $20.37 million.
• Insider transactions included Chairman Martin Mucci selling 97,526 shares, reducing his ownership by 17.91%, while CEO John B. Gibson sold 12,370 shares, decreasing his position by 13.14%.
• Paychex recently declared a quarterly dividend of $1.08 per share, totaling an annualized dividend of $4.32, which reflects a yield of 3.2% based on the current stock price.

UniSuper Management Pty Ltd boosted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 397.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,010 shares of the business services provider's stock after purchasing an additional 105,497 shares during the quarter. UniSuper Management Pty Ltd's holdings in Paychex were worth $20,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Paychex by 0.9% during the first quarter. Vanguard Group Inc. now owns 31,807,843 shares of the business services provider's stock valued at $4,907,314,000 after acquiring an additional 286,818 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paychex by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider's stock valued at $1,663,474,000 after acquiring an additional 737,542 shares during the period. Northern Trust Corp boosted its holdings in shares of Paychex by 3.8% during the first quarter. Northern Trust Corp now owns 4,989,182 shares of the business services provider's stock valued at $769,731,000 after acquiring an additional 181,628 shares during the period. Invesco Ltd. boosted its holdings in shares of Paychex by 0.7% during the first quarter. Invesco Ltd. now owns 4,135,296 shares of the business services provider's stock valued at $637,993,000 after acquiring an additional 30,670 shares during the period. Finally, Select Equity Group L.P. boosted its holdings in shares of Paychex by 99.0% during the first quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider's stock valued at $539,102,000 after acquiring an additional 1,738,372 shares during the period. Institutional investors and hedge funds own 83.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PAYX shares. BMO Capital Markets began coverage on shares of Paychex in a report on Thursday, July 10th. They set a "market perform" rating and a $160.00 price target for the company. Jefferies Financial Group set a $140.00 price objective on shares of Paychex and gave the stock a "hold" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Paychex from $148.00 to $153.00 and gave the stock an "underweight" rating in a report on Thursday, August 14th. Morgan Stanley reduced their price objective on shares of Paychex from $150.00 to $148.00 and set an "equal weight" rating for the company in a report on Friday, June 27th. Finally, Citigroup reduced their price objective on shares of Paychex from $158.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $149.70.

Insider Activity

In other Paychex news, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction dated 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. The trade was 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 Paychex 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 transaction, the chairman directly owned 446,917 shares in the company, valued at approximately $64,878,940.89. This trade represents a 17.91% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Paychex Trading Down 0.3%

NASDAQ PAYX traded down $0.35 on Friday, hitting $135.11. 1,305,369 shares of the company were exchanged, compared to its average volume of 1,876,443. The company's 50 day moving average price is $140.44 and its 200-day moving average price is $146.53. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $48.59 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91. Paychex, Inc. has a twelve month low of $131.83 and a twelve month high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Paychex had a return on equity of 45.01% and a net margin of 29.75%.During the same quarter in the previous year, the company earned $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. Analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

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

About Paychex

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.