Robert Schrader Sells 2,600 Shares of Paychex (NASDAQ:PAYX) Stock

Paychex, Inc. (NASDAQ:PAYX) CFO Robert Schrader sold 2,600 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the sale, the chief financial officer directly owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This represents a 12.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Paychex Stock Up 3.2%

Shares of PAYX traded up $3.64 during mid-day trading on Tuesday, hitting $119.12. 2,279,202 shares of the company traded hands, compared to its average volume of 3,676,971. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $148.00. 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 capitalization of $42.37 billion, a PE ratio of 24.35 and a beta of 0.84. The business has a 50 day moving average of $102.55 and a 200 day moving average of $98.35.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

Hedge Funds Weigh In On Paychex

A number of large investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its position in shares of Paychex by 957.1% in the fourth 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 period. Hilton Head Capital Partners LLC acquired a new stake in Paychex in the 4th quarter worth about $31,000. Kingdom Financial Group LLC. purchased a new position in shares of Paychex in the fourth quarter valued at approximately $33,000. Leonteq Securities AG boosted its stake in shares of Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after acquiring an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Paychex during the fourth quarter worth approximately $34,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. Stifel Nicolaus raised their price target on shares of Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $107.00 price objective on shares of Paychex in a report on Monday, July 20th. Morgan Stanley upped their price objective on shares of Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $107.53.

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.