Parsons Capital Management Inc. RI Has $2.40 Million Position in Paychex, Inc. $PAYX

Parsons Capital Management Inc. RI lowered its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,525 shares of the business services provider’s stock after selling 1,265 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Paychex were worth $2,404,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Pure Financial Advisors LLC raised its position in shares of Paychex by 31.4% during the second quarter. Pure Financial Advisors LLC now owns 4,063 shares of the business services provider’s stock worth $591,000 after purchasing an additional 972 shares during the period. Newman Dignan & Sheerar Inc. acquired a new stake in shares of Paychex during the second quarter worth about $204,000. QTR Family Wealth LLC raised its position in shares of Paychex by 2.5% during the second quarter. QTR Family Wealth LLC now owns 3,107 shares of the business services provider’s stock worth $452,000 after purchasing an additional 77 shares during the period. Trust Co. of Vermont raised its position in shares of Paychex by 0.5% during the second quarter. Trust Co. of Vermont now owns 36,757 shares of the business services provider’s stock worth $5,347,000 after purchasing an additional 166 shares during the period. Finally, Loudon Investment Management LLC grew its holdings in shares of Paychex by 4.4% during the second quarter. Loudon Investment Management LLC now owns 7,195 shares of the business services provider’s stock worth $1,047,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PAYX shares. Wolfe Research decreased their price objective on Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a report on Friday, September 26th. Morgan Stanley decreased their price objective on Paychex from $148.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank Of Canada set a $165.00 price objective on Paychex and gave the stock a “sector perform” rating in a report on Tuesday, June 24th. UBS Group decreased their price objective on Paychex from $148.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Barclays set a $155.00 price target on Paychex and gave the company an “equal weight” rating in a research note on Tuesday, June 24th. Eleven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $142.83.

Insider Activity at Paychex

In other news, Chairman Martin Mucci sold 97,526 shares of Paychex 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 transaction, the chairman directly owned 446,917 shares in the company, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John B. Gibson sold 12,370 shares of the business’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 of the company’s stock, valued at $11,602,669.60. This trade 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.

Paychex Stock Down 0.5%

PAYX stock opened at $123.42 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. Paychex, Inc. has a twelve month low of $119.02 and a twelve month high of $161.24. The business has a 50 day moving average price of $136.13 and a two-hundred day moving average price of $144.55. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, July 21st. Paychex’s payout ratio is currently 97.08%.

Paychex 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.