Key Points
- Paychex CFO Robert Schrader sold 2,600 shares at an average price of $115.09, receiving approximately $299,234. He retained 18,547 shares valued at about $2.13 million.
- Paychex exceeded quarterly earnings and revenue expectations, reporting $1.32 in EPS and $1.61 billion in revenue, with revenue up 12.5% year over year.
- The company declared a quarterly dividend of $1.19 per share, equivalent to a 4.0% annualized yield. Analysts maintain an overall “Hold” rating, with an average price target of $107.53.
Paychex, Inc. (NASDAQ:PAYX - Get Free Report) CFO Robert Schrader sold 2,600 shares of Paychex 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 completion of the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. This represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Paychex Stock Up 2.9%
NASDAQ PAYX opened at $118.87 on Wednesday. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $148.00. The company has a market capitalization of $42.28 billion, a P/E ratio of 24.31 and a beta of 0.84. The company's 50 day simple moving average is $103.04 and its 200 day simple moving average is $98.41. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26.
Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.01. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.60 billion. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.
Paychex Announces Dividend
The business also recently disclosed 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 4.0%. The ex-dividend date is Tuesday, July 28th. Paychex's dividend payout ratio is 97.34%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on PAYX shares. UBS Group lifted their target price on Paychex from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Cantor Fitzgerald reaffirmed an "underweight" rating and set a $107.00 target price on shares of Paychex in a report on Monday, July 20th. Morgan Stanley increased their price target on Paychex from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. Weiss Ratings raised Paychex from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Paychex from $100.00 to $105.00 and gave the stock an "underweight" rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $107.53.
Check Out Our Latest Report on Paychex
Hedge Funds Weigh In On Paychex
Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYX. Brighton Jones LLC raised its position in Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after buying an additional 1,190 shares during the period. Bison Wealth LLC boosted its position in Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider's stock worth $566,000 after acquiring an additional 117 shares during the period. Woodline Partners LP acquired a new stake in Paychex during the 1st quarter worth about $3,333,000. NewEdge Advisors LLC grew its stake in Paychex by 3.2% during the 2nd quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider's stock valued at $5,976,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Paychex by 47.1% during the 2nd quarter. Sei Investments Co. now owns 156,680 shares of the business services provider's stock valued at $22,790,000 after acquiring an additional 50,169 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.
Paychex Company Profile
(
Get Free Report)
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.
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