NEOS Investment Management LLC Boosts Holdings in Paychex, Inc. $PAYX

NEOS Investment Management LLC boosted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,050 shares of the business services provider’s stock after acquiring an additional 29,744 shares during the period. NEOS Investment Management LLC’s holdings in Paychex were worth $26,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new position in shares of Paychex during the 4th quarter worth approximately $31,000. Kingdom Financial Group LLC. acquired a new position in shares of Paychex during the 4th quarter worth approximately $33,000. Leonteq Securities AG lifted 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 in the last quarter. Field & Main Bank acquired a new stake in Paychex during the 2nd quarter valued at $33,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Paychex during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $121.71 on Friday. The company has a market cap of $43.29 billion, a P/E ratio of 24.89, a P/E/G ratio of 2.62 and a beta of 0.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a 52 week low of $85.45 and a 52 week high of $138.19. The business has a fifty day simple moving average of $116.50 and a 200-day simple moving average of $101.96.

Paychex (NASDAQ:PAYX) last released its earnings results 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. 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 the consensus estimate of $1.60 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities research analysts forecast that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PAYX. Cantor Fitzgerald reissued an “underweight” rating and issued a $107.00 price target on shares of Paychex in a report on Monday, July 20th. Jefferies Financial Group increased their price objective on Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. TD Cowen lifted their price objective on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. upped 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. Finally, Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Paychex presently has a consensus rating of “Hold” and a consensus price target of $111.00.

Insider Activity

In related news, Director Joseph Tucci sold 3,907 shares of the firm’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Schrader sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

Paychex 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.