UMB Bank n.a. Has $16.12 Million Position in Paychex, Inc. $PAYX

UMB Bank n.a. reduced its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,809 shares of the business services provider’s stock after selling 1,284 shares during the quarter. UMB Bank n.a.’s holdings in Paychex were worth $16,118,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Summit Wealth Partners LLC lifted its position in Paychex by 2.4% during the 1st quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider’s stock worth $467,000 after buying an additional 70 shares in the last quarter. LGT Group Foundation lifted its position in Paychex by 2.8% during the 1st quarter. LGT Group Foundation now owns 2,528 shares of the business services provider’s stock worth $390,000 after buying an additional 70 shares in the last quarter. Golden State Equity Partners lifted its position in Paychex by 0.9% during the 1st quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider’s stock worth $1,176,000 after buying an additional 71 shares in the last quarter. Palumbo Wealth Management LLC lifted its position in Paychex by 2.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider’s stock worth $492,000 after buying an additional 74 shares in the last quarter. Finally, King Wealth Management Group lifted its position in Paychex by 4.7% during the 1st quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 75 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Paychex from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Friday, June 27th. Jefferies Financial Group set a $140.00 target price on shares of Paychex and gave the company a “hold” rating in a research report on Thursday, June 26th. UBS Group cut their target price on shares of Paychex from $148.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup cut their target price on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Finally, Royal Bank Of Canada set a $165.00 target price on shares of Paychex and gave the company a “sector perform” rating in a research report on Tuesday, June 24th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Paychex presently has a consensus rating of “Reduce” and an average price target of $149.20.

Insider Buying and Selling

In related news, Chairman Martin Mucci sold 97,526 shares of the stock in a transaction that occurred 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 directly owned 446,917 shares of the company’s stock, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John B. Gibson sold 12,370 shares of the firm’s stock in a transaction that occurred on 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 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. 0.80% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

Shares of NASDAQ:PAYX opened at $130.00 on Friday. The company has a market capitalization of $46.75 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.00 and a beta of 0.91. The firm’s 50 day simple moving average is $139.08 and its 200 day simple moving average is $145.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28. Paychex, Inc. has a fifty-two week low of $129.33 and a fifty-two week high of $161.24.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same period last year, the company posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. As a group, sell-side analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, July 21st were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 21st. Paychex’s dividend payout ratio is presently 94.53%.

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.