Coston McIsaac & Partners Purchases 7,113 Shares of Paychex, Inc. $PAYX

Coston McIsaac & Partners increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,291 shares of the business services provider’s stock after purchasing an additional 7,113 shares during the period. Coston McIsaac & Partners’ holdings in Paychex were worth $4,356,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 44 Wealth Management LLC lifted its position in shares of Paychex by 2.7% in the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 86 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Paychex by 3.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock worth $381,000 after purchasing an additional 89 shares in the last quarter. JPL Wealth Management LLC lifted its holdings in Paychex by 0.3% in the 3rd quarter. JPL Wealth Management LLC now owns 27,686 shares of the business services provider’s stock worth $3,509,000 after purchasing an additional 92 shares in the last quarter. Greenleaf Trust boosted its stake in Paychex by 1.7% in the 4th quarter. Greenleaf Trust now owns 5,834 shares of the business services provider’s stock worth $654,000 after purchasing an additional 95 shares during the period. Finally, Bollard Group LLC boosted its stake in Paychex by 0.6% in the 3rd quarter. Bollard Group LLC now owns 16,496 shares of the business services provider’s stock worth $2,091,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Paychex stock opened at $99.90 on Monday. The company’s 50-day moving average price is $95.62 and its 200-day moving average price is $99.05. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a market cap of $35.79 billion, a PE ratio of 20.43 and a beta of 0.84. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $148.76.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The company’s revenue for the quarter 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 forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.19 dividend. This is an increase from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.76 dividend on an annualized basis and a yield of 4.8%. Paychex’s dividend payout ratio is currently 97.34%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Paychex in a report on Friday, April 24th. Wells Fargo & Company dropped their price objective on shares of Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a report on Thursday, March 26th. Jefferies Financial Group reduced their target price on Paychex from $110.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Finally, TD Cowen increased their price target on Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Paychex has a consensus rating of “Hold” and a consensus price target of $105.67.

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.