Achmea Investment Management B.V. Sells 97,339 Shares of Paychex, Inc. $PAYX

Achmea Investment Management B.V. cut its holdings in Paychex, Inc. (NASDAQ:PAYX) by 62.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,719 shares of the business services provider’s stock after selling 97,339 shares during the quarter. Achmea Investment Management B.V.’s holdings in Paychex were worth $7,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of 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 purchasing an additional 1,190 shares in the last quarter. Bison Wealth LLC boosted its position in Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after acquiring an additional 117 shares in the last quarter. Woodline Partners LP bought a new stake in Paychex during the 1st quarter valued at $3,333,000. Foundations Investment Advisors LLC increased its holdings in shares of Paychex by 67.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,909 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 1,167 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Paychex by 3.9% in the 2nd quarter. Cetera Investment Advisers now owns 149,707 shares of the business services provider’s stock valued at $21,776,000 after acquiring an additional 5,551 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Down 1.9%

Paychex stock opened at $90.64 on Thursday. The stock has a 50-day moving average of $99.36 and a two-hundred day moving average of $112.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.27 and a current ratio of 1.27. Paychex, Inc. has a one year low of $86.89 and a one year high of $161.24. The stock has a market cap of $32.54 billion, a PE ratio of 20.55 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Friday, December 19th. The business services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Paychex had a return on equity of 46.38% and a net margin of 26.45%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. On average, research analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex announced that its board has approved a stock buyback program on Friday, January 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, January 28th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, January 28th. Paychex’s payout ratio is currently 97.96%.

Analysts Set New Price Targets

PAYX has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research note on Tuesday, December 9th. Stifel Nicolaus cut their target price on Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Royal Bank Of Canada reduced their target price on shares of Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a report on Friday, December 5th. Citigroup lowered their price target on shares of Paychex from $139.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $122.81.

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.