Paychex (NASDAQ:PAYX) Director Sells $383,862.75 in Stock

Paychex, Inc. (NASDAQ:PAYX) Director Joseph 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 transaction of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares of the company’s stock, valued at $6,618,513. This trade represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paychex Stock Performance

Shares of Paychex stock opened at $106.35 on Friday. The company has a market capitalization of $38.10 billion, a PE ratio of 21.75 and a beta of 0.84. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $148.11. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $96.34 and its 200 day simple moving average is $98.71.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping 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 analyst estimates of $1.60 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter 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, research analysts predict that Paychex, Inc. will post 5.97 EPS for the current year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.19 per share. This is a boost from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date was Wednesday, May 13th. This represents a $4.76 annualized dividend and a dividend yield of 4.5%. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Paychex from $110.00 to $105.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company reduced their price target 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. TD Cowen increased their price objective on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. raised their price objective on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, June 25th. Finally, Citigroup raised shares of Paychex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $99.00 to $140.00 in a research report on Monday, June 15th. One equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $105.80.

Institutional Investors Weigh In On Paychex

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Paychex by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after acquiring an additional 4,583,157 shares in the last quarter. First Long Island Investors LLC raised its holdings in Paychex by 23.9% during the third quarter. First Long Island Investors LLC now owns 99,607 shares of the business services provider’s stock worth $12,626,000 after acquiring an additional 19,185 shares in the last quarter. LBP AM SA raised its holdings in Paychex by 125.2% during the fourth quarter. LBP AM SA now owns 40,517 shares of the business services provider’s stock worth $4,545,000 after acquiring an additional 22,527 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its position in Paychex by 35.9% during the third quarter. Elo Mutual Pension Insurance Co now owns 63,659 shares of the business services provider’s stock valued at $8,069,000 after purchasing an additional 16,812 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in Paychex by 17.4% during the fourth quarter. Tectonic Advisors LLC now owns 79,708 shares of the business services provider’s stock valued at $8,942,000 after purchasing an additional 11,805 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

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.