Twin Capital Management Inc. Decreases Stock Position in Paychex, Inc. $PAYX

Twin Capital Management Inc. cut its position in Paychex, Inc. (NASDAQ:PAYX) by 20.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,824 shares of the business services provider’s stock after selling 5,692 shares during the period. Twin Capital Management Inc.’s holdings in Paychex were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYX. 44 Wealth Management LLC raised its position in shares of Paychex by 2.7% in the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock valued at $479,000 after buying an additional 86 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake 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 worth $381,000 after purchasing an additional 89 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Paychex by 1.7% during the 4th quarter. Greenleaf Trust now owns 5,834 shares of the business services provider’s stock worth $654,000 after purchasing an additional 95 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in Paychex by 1.4% during the third quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock worth $922,000 after buying an additional 100 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Paychex by 14.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock worth $90,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $109.98 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $39.40 billion, a price-to-earnings ratio of 22.49 and a beta of 0.84. The stock’s 50-day moving average is $99.23 and its two-hundred day moving average is $98.27. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $148.11.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.19 per share. This is an increase from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.76 annualized dividend and a dividend yield of 4.3%. Paychex’s dividend payout ratio is presently 97.34%.

Insider Activity

In related news, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction 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. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Stifel Nicolaus upped their price objective on Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. Argus raised Paychex to a “strong-buy” rating in a research note on Friday, March 27th. BMO Capital Markets boosted their price objective on shares of Paychex to $52.00 and gave the company an “outperform” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.80.

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.