ProShare Advisors LLC Buys 10,696 Shares of Paychex, Inc. $PAYX

ProShare Advisors LLC lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 395,061 shares of the business services provider’s stock after purchasing an additional 10,696 shares during the period. ProShare Advisors LLC owned 0.11% of Paychex worth $38,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EFG International AG purchased a new position in shares of Paychex during the 2nd quarter worth approximately $1,494,000. Western Wealth Management LLC bought a new position in shares of Paychex in the 1st quarter worth approximately $1,174,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Paychex in the 2nd quarter valued at approximately $7,296,000. Callan Family Office LLC purchased a new position in shares of Paychex in the 2nd quarter valued at approximately $2,928,000. Finally, BlackRock Inc. purchased a new position in shares of Paychex in the 2nd quarter valued at approximately $2,728,970,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

NASDAQ PAYX opened at $112.12 on Monday. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $127.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average price is $112.80 and its 200-day moving average price is $103.59. The stock has a market cap of $39.91 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.35 and a beta of 0.81.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $1.22 EPS. Paychex’s revenue was up 5.9% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. As a group, equities analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, October 26th will be issued a dividend of $1.19 per share. The ex-dividend date is Monday, October 26th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. Paychex’s dividend payout ratio is presently 94.44%.

Insider Buying and Selling at Paychex

In related news, Director Joseph Velli sold 7,839 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $107.68, for a total transaction of $844,103.52. Following the completion of the sale, the director owned 81,725 shares of the company’s stock, valued at $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PAYX. Jefferies Financial Group reduced their price target on Paychex from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Robert W. Baird lowered their price objective on Paychex from $125.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, September 28th. UBS Group restated a “neutral” rating and set a $120.00 target price on shares of Paychex in a report on Thursday. Raymond James Financial upgraded shares of Paychex from a “market perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Paychex presently has a consensus rating of “Hold” and a consensus price target of $127.88.

Paychex Company Profile

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.