Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,037 shares of the business services provider’s stock, valued at approximately $790,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in shares of Paychex during the 4th quarter worth about $31,000. Cornerstone Planning Group LLC lifted its stake in Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. Kingdom Financial Group LLC. bought a new position in Paychex during the fourth quarter worth about $33,000. Acumen Wealth Advisors LLC bought a new position in Paychex during the fourth quarter worth about $34,000. Finally, Wealth Watch Advisors INC acquired a new position in Paychex during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
Insider Buying and Selling at Paychex
In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the transaction, the director owned 67,364 shares in the company, valued at $6,618,513. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer directly owned 18,547 shares of the company’s stock, valued at $2,134,574.23. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Paychex
Paychex Stock Up 1.2%
Paychex stock opened at $126.01 on Tuesday. The company’s 50-day moving average price is $111.58 and its two-hundred day moving average price is $100.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock has a market cap of $44.82 billion, a P/E ratio of 25.77 and a beta of 0.81. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $140.56.
Paychex (NASDAQ:PAYX – Get Free Report) last issued its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company 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 posted $1.19 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, analysts expect that Paychex, Inc. will post 5.96 EPS for the current year.
Paychex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is presently 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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