Paychex, Inc. $PAYX Shares Acquired by First Bank & Trust

First Bank & Trust increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 83.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,635 shares of the business services provider’s stock after buying an additional 13,905 shares during the period. First Bank & Trust’s holdings in Paychex were worth $3,012,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 1,190 shares in the last quarter. Bison Wealth LLC increased its position in shares of Paychex by 3.0% during the fourth 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 last quarter. Woodline Partners LP acquired a new position in shares of Paychex in the first quarter worth about $3,333,000. NewEdge Advisors LLC boosted its holdings in Paychex by 3.2% in the second quarter. NewEdge Advisors LLC now owns 41,081 shares of the business services provider’s stock valued at $5,976,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Paychex by 47.1% in the second quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock valued at $22,790,000 after purchasing an additional 50,169 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 0.9%

Shares of Paychex stock opened at $121.18 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The firm has a market cap of $43.10 billion, a P/E ratio of 24.78 and a beta of 0.81. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $141.59. The business has a 50-day moving average price of $107.12 and a 200 day moving average price of $98.90.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.Paychex’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. On average, sell-side analysts forecast that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio is currently 97.34%.

Insider Buying and Selling at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction on Friday, June 26th. The shares were sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director owned 67,364 shares of the company’s stock, valued at $6,618,513. The trade was a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $115.09, for a total transaction of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Citigroup increased their target price on Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley raised their price target on shares of Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Finally, UBS Group upped their price target on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $108.20.

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.