Decker Wealth Management LLC Takes Position in Paychex, Inc. $PAYX

Decker Wealth Management LLC acquired a new stake in Paychex, Inc. (NASDAQ:PAYX) in the first quarter, Holdings Channel.com reports. The fund acquired 4,421 shares of the business services provider’s stock, valued at approximately $407,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYX. Hilton Head Capital Partners LLC purchased a new position in Paychex during the fourth quarter worth about $31,000. Cornerstone Planning Group LLC boosted its holdings in Paychex by 957.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of Paychex in the 4th quarter valued at approximately $33,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Paychex in the 4th quarter valued at approximately $34,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Paychex during the 3rd quarter worth approximately $42,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was 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 in the company, valued at $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Paychex Price Performance

Paychex stock opened at $114.39 on Monday. The company’s 50 day simple moving average is $100.05 and its 200-day simple moving average is $98.28. The company has a market capitalization of $40.98 billion, a price-to-earnings ratio of 23.39 and a beta of 0.84. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $148.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $1.19 per share. 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 dividend payout ratio is 97.34%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Paychex to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Wells Fargo & Company cut their target price on Paychex from $116.00 to $95.00 and set an “underweight” rating for the company in a research note on Thursday, March 26th. Robert W. Baird reduced their target price on Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. Finally, UBS Group decreased their price target on Paychex from $100.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus target price of $105.80.

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.