Paychex, Inc. $PAYX Stock Acquired by VestGen Advisors LLC

VestGen Advisors LLC grew its stake in Paychex, Inc. (NASDAQ:PAYX) by 249.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,675 shares of the business services provider’s stock after acquiring an additional 13,334 shares during the quarter. VestGen Advisors LLC’s holdings in Paychex were worth $1,840,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PAYX. Vantage Investment Partners LLC bought a new stake in shares of Paychex in the 3rd quarter valued at $11,747,000. Asset Management One Co. Ltd. grew its position in Paychex by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 153,229 shares of the business services provider’s stock valued at $15,093,000 after purchasing an additional 3,199 shares in the last quarter. Latitude Advisors LLC bought a new stake in Paychex during the 3rd quarter worth about $41,000. Miller Howard Investments Inc. NY boosted its stake in shares of Paychex by 2.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 516,109 shares of the business services provider’s stock worth $50,837,000 after buying an additional 12,486 shares during the last quarter. Finally, Hourglass Capital LLC acquired a new position in shares of Paychex during the 3rd quarter worth about $5,776,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYX has been the subject of several analyst reports. Cantor Fitzgerald decreased their price objective on Paychex from $112.00 to $96.00 and set an “underweight” rating for the company in a report on Monday, September 28th. Guggenheim restated a “neutral” rating on shares of Paychex in a research note on Thursday, September 17th. JPMorgan Chase & Co. upgraded shares of Paychex from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $115.00 in a research note on Thursday, September 24th. Wolfe Research upgraded Paychex from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, September 16th. Finally, Robert W. Baird decreased their target price on shares of Paychex from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.88.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $112.12 on Friday. The firm has a 50 day moving average of $112.80 and a 200-day moving average of $103.59. The stock has a market capitalization of $39.91 billion, a PE ratio of 22.25, a PEG ratio of 2.29 and a beta of 0.86. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $127.98.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, equities research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s dividend payout ratio (DPR) is currently 94.44%.

Insider Buying and Selling at Paychex

In other news, Director Joseph Velli sold 7,839 shares of Paychex stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the transaction, the director owned 81,725 shares in the company, valued at approximately $8,800,148. This trade represents a 8.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

About Paychex

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.