Nissay Asset Management Corp Japan Has $10.09 Million Stock Holdings in Paychex, Inc. $PAYX

Nissay Asset Management Corp Japan grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,577 shares of the business services provider’s stock after acquiring an additional 5,581 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Paychex were worth $10,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its stake in Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Paychex in the 4th quarter worth $31,000. Kingdom Financial Group LLC. acquired a new position in shares of Paychex during the fourth quarter valued at about $33,000. Leonteq Securities AG raised its position in shares of Paychex by 2,669.2% during the first 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. Finally, Field & Main Bank bought a new stake in shares of Paychex in the second quarter valued at about $33,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 0.4%

PAYX stock opened at $127.04 on Friday. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $139.53. 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 business’s 50 day moving average is $113.76 and its 200-day moving average is $100.95. The firm has a market cap of $45.19 billion, a P/E ratio of 25.98 and a beta of 0.81.

Paychex (NASDAQ:PAYX) last announced its quarterly 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. Paychex’s quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, July 28th. Paychex’s payout ratio is currently 97.34%.

Insider Activity

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the sale, the director directly owned 67,364 shares in the company, valued at $6,618,513. This represents a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAYX shares. Weiss Ratings raised Paychex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. TD Cowen boosted their price objective on Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, June 8th. Jefferies Financial Group upped their target price on Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Finally, Citigroup raised their target price on Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.20.

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.