Quantbot Technologies LP Invests $1.51 Million in Paychex, Inc. $PAYX

Quantbot Technologies LP 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 15,329 shares of the business services provider’s stock, valued at approximately $1,507,000.

Other institutional investors have also recently bought and sold shares of the company. Evolve Private Wealth LLC acquired a new stake in shares of Paychex during the 2nd quarter valued at about $456,000. XXEC Inc. acquired a new position in Paychex in the second quarter worth approximately $1,123,016,000. Westpac Banking Corp bought a new position in Paychex during the second quarter valued at approximately $1,406,000. TRB Wealth Management LLC bought a new position in Paychex during the second quarter valued at approximately $327,000. Finally, Sumitomo Life Insurance Co. acquired a new stake in Paychex in the second quarter valued at approximately $7,267,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 1.2%

PAYX opened at $126.01 on Tuesday. The company has a market capitalization of $44.82 billion, a P/E ratio of 25.77 and a beta of 0.81. 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’s fifty day moving average price is $111.58 and its two-hundred day moving average price is $100.20. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $140.56.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. 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 prior year, the company posted $1.19 EPS. 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. On average, analysts anticipate that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

The firm 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. This represents a $4.76 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s payout ratio is presently 97.34%.

Insiders Place Their Bets

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the 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 owned 67,364 shares of the company’s stock, valued at $6,618,513. This represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at $2,134,574.23. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PAYX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. UBS Group upped their price objective on shares of Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Jefferies Financial Group boosted their price target on Paychex from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $109.20.

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.