PUREfi Wealth LLC Buys 508 Shares of Paychex, Inc. $PAYX

PUREfi Wealth LLC raised its stake in Paychex, Inc. (NASDAQ:PAYX) by 26.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,425 shares of the business services provider’s stock after acquiring an additional 508 shares during the period. PUREfi Wealth LLC’s holdings in Paychex were worth $353,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in Paychex in the first quarter worth $34,000. MorganRosel Wealth Management LLC purchased a new stake in Paychex in the first quarter worth $34,000. Quarry LP purchased a new stake in Paychex in the first quarter worth $34,000. Tsfg LLC grew its stake in Paychex by 122.3% in the first 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. purchased a new stake in Paychex in the first quarter worth $38,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Up 1.0%

PAYX stock opened at $124.61 on Monday. Paychex, Inc. has a fifty-two week low of $119.02 and a fifty-two week high of $161.24. The business’s 50-day moving average is $135.66 and its two-hundred day moving average is $144.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.85 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. Paychex’s revenue was up 16.8% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

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

Insider Transactions at Paychex

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PAYX. Barclays set a $155.00 price target on Paychex and gave the stock an “equal weight” rating in a research note on Tuesday, June 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paychex in a research note on Saturday, September 27th. TD Cowen reduced their price target on Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets cut their target price on Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group cut their target price on Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday. Twelve research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $142.77.

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.