Capital Advisors Inc. OK Has $29.73 Million Holdings in Paychex, Inc. $PAYX

Capital Advisors Inc. OK boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,296 shares of the business services provider’s stock after acquiring an additional 5,954 shares during the period. Capital Advisors Inc. OK’s holdings in Paychex were worth $29,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. 44 Wealth Management LLC increased its holdings in shares of Paychex by 2.7% in the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock worth $479,000 after acquiring an additional 86 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Paychex by 3.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 89 shares in the last quarter. Prosperity Consulting Group LLC lifted its holdings in shares of Paychex by 1.4% during the 3rd quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 100 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Paychex by 14.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 101 shares in the last quarter. Finally, Zacks Investment Management grew its position in shares of Paychex by 5.1% in the 3rd quarter. Zacks Investment Management now owns 2,094 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 101 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAYX shares. Morgan Stanley increased their target price on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. Jefferies Financial Group upped their price target on shares of Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Finally, Cantor Fitzgerald restated an “underweight” rating and set a $107.00 price objective on shares of Paychex in a report on Monday, July 20th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.20.

Paychex Stock Up 0.4%

NASDAQ:PAYX opened at $127.04 on Friday. The stock has a 50-day simple moving average of $113.76 and a 200 day simple moving average of $100.95. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $139.53. The company has a market cap of $45.19 billion, a PE ratio of 25.98 and a beta of 0.81. 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 released its earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, beating 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 analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The business’s quarterly 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, sell-side analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th were issued a $1.19 dividend. The ex-dividend date was Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.7%. Paychex’s dividend payout ratio (DPR) is 97.34%.

Insiders Place Their Bets

In related news, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the transaction, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the firm’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 approximately $6,618,513. This trade represents a 5.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.