Groupe la Francaise Purchases 6,705 Shares of Paychex, Inc. $PAYX

Groupe la Francaise boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,940 shares of the business services provider’s stock after buying an additional 6,705 shares during the quarter. Groupe la Francaise’s holdings in Paychex were worth $4,616,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new position in shares of Paychex during the 4th quarter worth approximately $31,000. Kingdom Financial Group LLC. bought a new position in Paychex in the fourth quarter valued at $33,000. Leonteq Securities AG increased its stake in Paychex by 2,669.2% in the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after buying an additional 347 shares during the last quarter. Field & Main Bank bought a new stake in Paychex during the 2nd quarter worth about $33,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Paychex during the 4th quarter worth about $34,000. Institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

PAYX opened at $121.71 on Tuesday. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $138.19. The stock’s fifty day simple moving average is $116.94 and its 200 day simple moving average is $102.22. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock has a market cap of $43.29 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 28th. Paychex’s dividend payout ratio is currently 97.34%.

Insider Activity

In other news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the transaction, the director owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the transaction, the chief financial officer owned 18,547 shares in the company, valued at approximately $2,134,574.23. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PAYX shares. UBS Group raised their price objective on Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Morgan Stanley upped their target price on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Weiss Ratings raised Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Stephens began coverage on Paychex in a research note on Friday. They issued an “equal weight” rating and a $132.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. One 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $111.00.

About Paychex

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.