Johnson Financial Group Inc. Acquires Shares of 10,381 Paychex, Inc. $PAYX

Johnson Financial Group Inc. acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,381 shares of the business services provider’s stock, valued at approximately $1,021,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after buying an additional 1,190 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Paychex by 3.0% during the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares during the last quarter. Woodline Partners LP bought a new stake in Paychex in the 1st quarter valued at $3,333,000. NewEdge Advisors LLC lifted its stake in shares of Paychex by 3.2% in the second quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider’s stock valued at $5,976,000 after buying an additional 1,290 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Paychex by 47.1% in the 2nd quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock worth $22,790,000 after acquiring an additional 50,169 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of PAYX stock opened at $122.50 on Thursday. The stock’s fifty day simple moving average is $110.13 and its 200 day simple moving average is $99.70. 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 firm has a market cap of $43.57 billion, a price-to-earnings ratio of 25.05 and a beta of 0.81. Paychex, Inc. has a one year low of $85.45 and a one year high of $141.19.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating 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 firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The business’s 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. On average, analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 3.9%. Paychex’s dividend payout ratio is presently 97.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PAYX shares. TD Cowen lifted their price target on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $107.00 price objective on shares of Paychex in a report on Monday, July 20th. UBS Group lifted their target price on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley upped their target price on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and a consensus target price of $109.20.

Insider Activity

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares in the company, valued at $6,618,513. The trade was a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by corporate insiders.

Paychex Company 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.