Deutsche Bank AG Acquires Shares of 1,532,704 Paychex, Inc. $PAYX

Deutsche Bank AG acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,532,704 shares of the business services provider’s stock, valued at approximately $150,711,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC boosted its position in shares of Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after acquiring an additional 268 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Paychex during the fourth quarter valued at $31,000. Kingdom Financial Group LLC. bought a new stake in Paychex in the 4th quarter valued at $33,000. Leonteq Securities AG increased its holdings in Paychex by 2,669.2% in the 1st 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 during the last quarter. Finally, Acumen Wealth Advisors LLC purchased a new stake in Paychex in the 4th quarter worth $34,000. Institutional investors own 83.47% of the company’s stock.

Insider Activity

In related news, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction dated 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 directly owned 67,364 shares of the company’s stock, valued at $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $115.09, for a total transaction of $299,234.00. Following the completion of the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

Paychex Stock Up 2.1%

Shares of PAYX opened at $122.50 on Thursday. 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 business has a fifty day moving average of $110.13 and a 200 day moving average of $99.70. The company has a market cap of $43.57 billion, a PE ratio of 25.05 and a beta of 0.81. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $141.19.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share 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 business 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 business posted $1.19 earnings per share. The business’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. On average, sell-side analysts expect that Paychex, Inc. will post 5.96 EPS for the current 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 issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, July 28th. Paychex’s dividend payout ratio is presently 97.34%.

Analyst Ratings Changes

Several research analysts have commented on PAYX shares. JPMorgan Chase & Co. increased their price objective on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Morgan Stanley boosted their target price on Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Jefferies Financial Group increased their price target on Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus raised their price target on Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.