Aurora Investment Counsel Takes Position in Paychex, Inc. $PAYX

Aurora Investment Counsel acquired a new position in Paychex, Inc. (NASDAQ:PAYX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,840 shares of the business services provider’s stock, valued at approximately $2,196,000. Paychex makes up about 1.2% of Aurora Investment Counsel’s investment portfolio, making the stock its 29th biggest position.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Paychex by 26.3% in 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 increased its holdings in Paychex by 3.0% during the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares during the last quarter. Woodline Partners LP bought a new stake in Paychex during the first quarter worth $3,333,000. NewEdge Advisors LLC raised its position in Paychex by 3.2% during the second quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider’s stock worth $5,976,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Paychex by 47.1% in the second quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock valued at $22,790,000 after acquiring an additional 50,169 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group decreased their target price on Paychex from $100.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. 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 research report on Thursday, June 25th. Morgan Stanley boosted their price objective on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Wells Fargo & Company dropped their price target on Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a report on Thursday, March 26th. Finally, Stephens reduced their price target on Paychex from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $105.80.

Paychex Price Performance

PAYX stock opened at $114.39 on Friday. 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 firm has a market cap of $40.98 billion, a P/E ratio of 23.39 and a beta of 0.84. The company’s 50-day moving average price is $100.05 and its two-hundred day moving average price is $98.39. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $148.11.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $1.19 EPS. The company’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, analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, July 28th. Paychex’s payout ratio is currently 97.34%.

Insider Buying and Selling

In other news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

Paychex Company 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.