Paychex, Inc. $PAYX Shares Newly Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,201 shares of the business services provider’s stock, valued at approximately $808,000.

A number of other large investors also recently added to or reduced their stakes in PAYX. XXEC Inc. bought a new position in shares of Paychex in the 2nd quarter valued at about $1,123,016,000. BlackRock Inc. acquired a new stake in shares of Paychex during the 2nd quarter worth approximately $2,728,970,000. State Street Corp grew its position in shares of Paychex by 2.6% during the 2nd quarter. State Street Corp now owns 14,411,341 shares of the business services provider’s stock worth $1,417,067,000 after buying an additional 361,713 shares during the period. Bank of America Corp DE bought a new stake in shares of Paychex during the second quarter worth approximately $434,061,000. Finally, First Trust Advisors LP raised its stake in shares of Paychex by 13.5% during the first quarter. First Trust Advisors LP now owns 2,344,056 shares of the business services provider’s stock worth $215,934,000 after buying an additional 278,507 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

Paychex stock opened at $116.20 on Wednesday. The firm has a market capitalization of $41.36 billion, a P/E ratio of 20.38, a PEG ratio of 2.41 and a beta of 0.81. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $127.98. The business has a 50-day moving average of $111.53 and a 200-day moving average of $103.86. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23.

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

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s dividend payout ratio is presently 94.44%.

Insiders Place Their Bets

In other Paychex news, Director Joseph Velli sold 7,839 shares of the stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $107.68, for a total value of $844,103.52. Following the sale, the director directly owned 81,725 shares in the company, valued at approximately $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PAYX shares. Jefferies Financial Group cut their price objective on shares of Paychex from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Robert W. Baird lowered their target price on shares of Paychex from $125.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Stifel Nicolaus dropped their target price on shares of Paychex from $130.00 to $112.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. JPMorgan Chase & Co. raised Paychex from an “underweight” rating to a “neutral” rating and increased their price target for the company from $105.00 to $115.00 in a research note on Thursday, September 24th. Finally, Citigroup raised their price target on Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $115.93.

About Paychex

Paychex, Inc. provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance. The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.