Raiffeisen Bank International AG lifted its holdings in Paychex, Inc. (NASDAQ:PAYX – Free Report) by 5.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 157,983 shares of the business services provider’s stock after buying an additional 7,537 shares during the quarter. Raiffeisen Bank International AG’s holdings in Paychex were worth $15,557,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of PAYX. Hilton Head Capital Partners LLC acquired a new stake in Paychex during the fourth quarter worth about $31,000. Kingdom Financial Group LLC. acquired a new position in Paychex in the fourth quarter valued at approximately $33,000. Acumen Wealth Advisors LLC acquired a new position in Paychex in the fourth quarter valued at approximately $34,000. Wealth Watch Advisors INC bought a new position in shares of Paychex during the third quarter valued at approximately $42,000. Finally, Field & Main Bank acquired a new stake in shares of Paychex during the 2nd quarter worth approximately $33,000. 83.47% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the sale, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the sale, the chief financial officer directly owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Paychex
Paychex Stock Performance
Shares of PAYX stock opened at $125.08 on Friday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $138.19. The firm has a market capitalization of $44.49 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The business has a 50 day simple moving average of $116.07 and a 200 day simple moving average of $101.83. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26.
Paychex (NASDAQ:PAYX – Get Free Report) last announced its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, equities research analysts anticipate that Paychex, Inc. will post 5.96 EPS for the current year.
Paychex Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, July 28th were issued a $1.19 dividend. The ex-dividend date of this dividend was Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 3.8%. Paychex’s dividend payout ratio is presently 97.34%.
About Paychex
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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