Drucker Wealth 3.0 LLC Buys 5,475 Shares of Paychex, Inc. $PAYX

Drucker Wealth 3.0 LLC grew its stake in Paychex, Inc. (NASDAQ:PAYX) by 79.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,393 shares of the business services provider’s stock after buying an additional 5,475 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Paychex were worth $1,142,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PAYX. Capital International Investors boosted its position in Paychex by 59.1% during the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock worth $3,395,583,000 after purchasing an additional 11,243,295 shares during the period. Vanguard Group Inc. lifted its stake in shares of Paychex by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock worth $4,750,669,000 after buying an additional 4,583,157 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Paychex by 4,141.2% during the 4th quarter. Federated Hermes Inc. now owns 2,409,229 shares of the business services provider’s stock worth $270,267,000 after buying an additional 2,352,423 shares during the period. Norges Bank bought a new stake in shares of Paychex during the 4th quarter worth $257,699,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Paychex during the 3rd quarter worth $117,809,000. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.1%

Shares of PAYX stock opened at $99.81 on Tuesday. The firm has a market capitalization of $35.76 billion, a P/E ratio of 20.41 and a beta of 0.84. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $148.76. The firm’s fifty day simple moving average is $95.77 and its 200 day simple moving average is $98.96. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22.

Paychex (NASDAQ:PAYX) last issued its quarterly 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. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, sell-side analysts predict that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Increases Dividend

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

Analyst Ratings Changes

PAYX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Paychex in a report on Friday, April 24th. Guggenheim started coverage on shares of Paychex in a report on Thursday, March 19th. They set a “neutral” rating for the company. BMO Capital Markets raised their price target on Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Citigroup upgraded Paychex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $99.00 to $140.00 in a research note on Monday, June 15th. Finally, Stephens cut their price objective on Paychex from $125.00 to $105.00 and set an “equal weight” rating for the company in a research report on Thursday, March 26th. 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, the company has a consensus rating of “Hold” and a consensus target price of $105.67.

Paychex 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.