Pure Financial Advisors LLC Makes New Investment in Paychex, Inc. $PAYX

Pure Financial Advisors LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,824 shares of the business services provider’s stock, valued at approximately $671,000.

Other large investors have also made changes to their positions in the company. 44 Wealth Management LLC lifted its position in Paychex by 2.7% during the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock worth $479,000 after buying an additional 86 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Paychex by 3.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock valued at $381,000 after buying an additional 89 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in shares of Paychex by 1.4% in the 3rd quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock worth $922,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Paychex by 14.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock worth $90,000 after acquiring an additional 101 shares during the period. Finally, Zacks Investment Management raised its holdings in shares of Paychex by 5.1% during the 3rd quarter. Zacks Investment Management now owns 2,094 shares of the business services provider’s stock worth $265,000 after acquiring an additional 101 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PAYX shares. Jefferies Financial Group upped their price objective on shares of Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. UBS Group lifted their price target on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, June 25th. Finally, Stifel Nicolaus raised their target price on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $109.20.

Paychex Stock Down 0.1%

Paychex stock opened at $124.88 on Thursday. The company has a market capitalization of $44.42 billion, a PE ratio of 25.54 and a beta of 0.81. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $139.53. The firm has a 50 day moving average price of $112.62 and a 200 day moving average price of $100.57.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $1.19 per share. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 3.8%. Paychex’s dividend payout ratio is 97.34%.

Insider Transactions at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction dated Friday, June 26th. The stock was 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 in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total transaction of $299,234.00. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by company insiders.

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.