Quantinno Capital Management LP Buys 216,781 Shares of Paychex, Inc. $PAYX

Quantinno Capital Management LP boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 126.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,686 shares of the business services provider’s stock after acquiring an additional 216,781 shares during the quarter. Quantinno Capital Management LP owned 0.11% of Paychex worth $35,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex during the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its stake in shares of Paychex by 957.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after buying an additional 268 shares during the period. Kingdom Financial Group LLC. purchased a new position in shares of Paychex in the fourth quarter worth $33,000. Acumen Wealth Advisors LLC bought a new stake in Paychex during the 4th quarter valued at $34,000. Finally, Wealth Watch Advisors INC bought a new stake in Paychex during the 3rd quarter valued at $42,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Down 4.7%

NASDAQ:PAYX opened at $116.33 on Friday. The company has a 50-day moving average price of $104.03 and a 200-day moving average price of $98.48. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 23.79 and a beta of 0.84. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $146.83.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results 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. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. Paychex’s quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities analysts predict 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 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 dividend on an annualized basis and a dividend yield of 4.1%. Paychex’s dividend payout ratio is 97.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of Paychex from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings upgraded shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. TD Cowen increased their price objective on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald reiterated an “underweight” rating and issued a $107.00 price objective on shares of Paychex in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Paychex presently has an average rating of “Hold” and an average target price of $108.20.

Insider Activity at Paychex

In related news, CFO Robert L. 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 sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction on 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by corporate insiders.

About Paychex

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.