Commerzbank Aktiengesellschaft FI Purchases 7,580 Shares of Paychex, Inc. $PAYX

Commerzbank Aktiengesellschaft FI grew its position in Paychex, Inc. (NASDAQ:PAYX) by 36.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 28,506 shares of the business services provider’s stock after buying an additional 7,580 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Paychex were worth $2,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors increased its position in Paychex by 59.1% in the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock worth $3,395,583,000 after purchasing an additional 11,243,295 shares during the period. Vanguard Group Inc. lifted its position in Paychex by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after purchasing an additional 4,583,157 shares during the period. Federated Hermes Inc. boosted its stake in shares of Paychex by 4,141.2% in the 4th quarter. Federated Hermes Inc. now owns 2,409,229 shares of the business services provider’s stock valued at $270,267,000 after purchasing an additional 2,352,423 shares during the last quarter. Norges Bank bought a new position in shares of Paychex in the 4th quarter valued at about $257,699,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Paychex during the 3rd quarter worth approximately $117,809,000. Institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PAYX shares. TD Cowen boosted their price target on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. UBS Group reduced their price objective on shares of Paychex from $100.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. BMO Capital Markets lifted their target price on shares of Paychex to $52.00 and gave the stock an “outperform” rating in a report on Thursday, March 26th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Finally, Citigroup raised Paychex from a “neutral” rating to a “buy” rating and increased their price target for the company from $99.00 to $140.00 in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Paychex has an average rating of “Hold” and an average target price of $106.40.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director owned 67,364 shares of the company’s stock, valued at $6,618,513. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

Shares of PAYX stock opened at $111.96 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $39.82 billion, a PE ratio of 22.90 and a beta of 0.84. The stock has a 50-day moving average of $100.84 and a 200-day moving average of $98.29. Paychex, Inc. has a one year low of $85.45 and a one year high of $148.11.

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

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

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.