Vise Technologies Inc. Takes $1.51 Million Position in Paychex, Inc. $PAYX

Vise Technologies Inc. purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,408 shares of the business services provider’s stock, valued at approximately $1,515,000.

A number of other institutional investors and hedge funds have also modified their holdings of PAYX. Vanguard Group Inc. lifted its stake in Paychex by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after buying an additional 4,583,157 shares during the period. Danske Bank A S grew its position in shares of Paychex by 14.0% during the 4th quarter. Danske Bank A S now owns 205,341 shares of the business services provider’s stock worth $23,035,000 after buying an additional 25,184 shares during the period. Comerica Bank grew its position in shares of Paychex by 10.4% during the 4th quarter. Comerica Bank now owns 121,705 shares of the business services provider’s stock worth $13,653,000 after buying an additional 11,497 shares during the period. Truist Financial Corp increased its stake in shares of Paychex by 33.3% in the 4th quarter. Truist Financial Corp now owns 208,150 shares of the business services provider’s stock valued at $23,350,000 after acquiring an additional 51,982 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Paychex in the 2nd quarter valued at about $7,296,000. 83.47% of the stock is owned by institutional investors.

Paychex Trading Up 1.3%

NASDAQ:PAYX opened at $124.47 on Friday. The company has a market cap of $44.27 billion, a P/E ratio of 25.45 and a beta of 0.81. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $141.19. The business has a 50 day moving average price of $111.08 and a two-hundred day moving average price of $100.01. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.60 billion. During the same period last year, the company earned $1.19 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio is currently 97.34%.

Insider Transactions at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 67,364 shares in the company, valued at $6,618,513. This trade represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the completion of the sale, the chief financial officer directly owned 18,547 shares in the company, valued at approximately $2,134,574.23. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAYX. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. TD Cowen upped their target price on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, June 8th. UBS Group increased their target price on shares of Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Stifel Nicolaus increased their target price on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, June 25th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.20.

Paychex 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.