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

PUREfi Wealth LLC boosted its stake in Paychex, Inc. (NASDAQ:PAYX) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 institutional investors have also added to or reduced their stakes in the company. Select Equity Group L.P. grew its position in shares of Paychex by 99.0% during the 1st quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock worth $539,102,000 after buying an additional 1,738,372 shares during the period. Nuveen LLC bought a new position in shares of Paychex in the 1st quarter worth $134,192,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paychex by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock worth $1,663,474,000 after purchasing an additional 737,542 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Paychex by 117.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock worth $187,512,000 after purchasing an additional 657,871 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Paychex by 25.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,844,949 shares of the business services provider’s stock worth $438,919,000 after purchasing an additional 581,410 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Paychex Stock Up 1.0%

PAYX stock opened at $124.61 on Monday. The firm has a market capitalization of $44.85 billion, a PE ratio of 28.00, a PEG ratio of 2.85 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The stock has a 50-day simple moving average of $135.66 and a two-hundred day simple moving average of $144.37. Paychex, Inc. has a twelve month low of $119.02 and a twelve month high of $161.24.

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

Paychex Announces Dividend

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

Insider Buying and Selling

In related news, Chairman Martin Mucci sold 97,526 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman owned 446,917 shares in the company, valued at $64,878,940.89. The trade was a 17.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John B. Gibson sold 12,370 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was 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. The trade was a 13.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAYX. TD Cowen cut their target price on Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Jefferies Financial Group set a $130.00 target price on Paychex in a research report on Tuesday, September 30th. JPMorgan Chase & Co. raised their target price on Paychex from $148.00 to $153.00 and gave the company an “underweight” rating in a research report on Thursday, August 14th. Stifel Nicolaus decreased their target price on Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. Finally, Morgan Stanley decreased their target price on Paychex from $148.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday. Twelve investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus 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.