Lombard Odier Asset Management Switzerland SA Sells 8,900 Shares of Paychex, Inc. $PAYX

Lombard Odier Asset Management Switzerland SA cut its position in Paychex, Inc. (NASDAQ:PAYX) by 75.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,914 shares of the business services provider’s stock after selling 8,900 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Paychex were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PAYX. Cornerstone Planning Group LLC boosted its holdings in Paychex by 957.1% in the 4th 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. Hilton Head Capital Partners LLC bought a new stake in Paychex during the fourth quarter valued at about $31,000. Kingdom Financial Group LLC. bought a new stake in Paychex during the fourth quarter valued at about $33,000. Leonteq Securities AG lifted its position in shares of Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 347 shares in the last quarter. Finally, Acumen Wealth Advisors LLC bought a new position in shares of Paychex in the fourth quarter worth about $34,000. 83.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value of $383,862.75. Following the sale, 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 this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the company’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 directly owned 18,547 shares in the company, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by corporate insiders.

Paychex Trading Up 2.7%

Shares of PAYX stock opened at $122.13 on Thursday. Paychex, Inc. has a 12-month low of $85.45 and a 12-month high of $148.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $103.59 and its 200-day moving average price is $98.46. The stock has a market capitalization of $43.44 billion, a price-to-earnings ratio of 24.98 and a beta of 0.84.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The firm’s 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 research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued 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 97.34%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “underweight” rating and set a $107.00 target price on shares of Paychex in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, June 25th. Citigroup upgraded Paychex from a “neutral” rating to a “buy” rating and upped their price target for the stock from $99.00 to $140.00 in a research note on Monday, June 15th. TD Cowen lifted their price objective on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, June 8th. Finally, Morgan Stanley lifted their price objective on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Paychex has a consensus rating of “Hold” and a consensus target price of $107.53.

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.