OneDigital Investment Advisors LLC Purchases Shares of 48,723 Paychex, Inc. $PAYX

OneDigital Investment Advisors LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,723 shares of the business services provider’s stock, valued at approximately $4,791,000.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in shares of 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 buying an additional 268 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Paychex during the 4th quarter worth $31,000. Kingdom Financial Group LLC. acquired a new stake in Paychex during the 4th quarter worth $33,000. Leonteq Securities AG lifted its position in Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new stake in Paychex in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective 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. JPMorgan Chase & Co. lifted their target price on Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, June 25th. Stifel Nicolaus boosted their target price on Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. Weiss Ratings raised Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Finally, UBS Group raised their price target on Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.20.

Paychex Stock Performance

NASDAQ PAYX opened at $122.02 on Monday. The firm has a market cap of $43.40 billion, a P/E ratio of 24.95 and a beta of 0.81. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $141.19. The business’s 50-day moving average price is $108.92 and its 200 day moving average price is $99.34. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 EPS 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 during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’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, equities research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

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

Insider Activity at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction 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 directly owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by corporate insiders.

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.