Independence Bank of Kentucky boosted its position in Paychex, Inc. (NASDAQ:PAYX – Free Report) by 37.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,711 shares of the business services provider’s stock after purchasing an additional 4,845 shares during the period. Independence Bank of Kentucky’s holdings in Paychex were worth $1,632,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PAYX. Vermillion & White Wealth Management Group LLC acquired a new position in Paychex in the 3rd quarter valued at approximately $27,000. Stance Capital LLC acquired a new stake in Paychex during the 3rd quarter valued at approximately $31,000. Hilton Head Capital Partners LLC bought a new position in Paychex during the fourth quarter worth $31,000. KERR FINANCIAL PLANNING Corp bought a new stake in Paychex during the third quarter valued at $37,000. Finally, Cornerstone Planning Group LLC grew its holdings in Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after acquiring an additional 268 shares during the period. 83.47% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Paychex
In other news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the transaction, the director owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Report on PAYX
Trending Headlines about Paychex
Here are the key news stories impacting Paychex this week:
- Positive Sentiment: Zacks Research lifted multiple earnings estimates for Paychex (PAYX), including FY2027 and FY2029, signaling improved profit expectations and a potentially supportive outlook for the stock.
- Positive Sentiment: Paychex was highlighted among the Nasdaq 100’s highest-yielding stocks, which may attract income-focused investors looking for defensive dividend names.
- Neutral Sentiment: Short-interest data showed no reported short interest, so there is no clear evidence of a meaningful bearish positioning shift in the shares.
- Negative Sentiment: A separate article said Paychex (PAYX) could be as much as 38% below fair value after removal from the Russell Growth Index, suggesting the recent move may be partly tied to index-related repricing and raising valuation concerns. Article Title
Paychex Price Performance
Shares of NASDAQ:PAYX traded up $1.28 on Friday, hitting $107.54. The company’s stock had a trading volume of 2,179,668 shares, compared to its average volume of 3,609,491. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. The company has a 50-day simple moving average of $98.16 and a 200 day simple moving average of $98.48. The company has a market capitalization of $38.53 billion, a PE ratio of 21.99 and a beta of 0.84. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $148.11.
Paychex (NASDAQ:PAYX – Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $1.19 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Sell-side analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.
Paychex Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. Paychex’s payout ratio is 97.34%.
Paychex Profile
Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.
Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.
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