Pure Financial Advisors LLC Takes $671,000 Position in Paychex, Inc. $PAYX

Pure Financial Advisors LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,824 shares of the business services provider’s stock, valued at approximately $671,000.

A number of other large investors have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex during the fourth quarter valued at $31,000. Cornerstone Planning Group LLC raised its stake 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 acquiring an additional 268 shares during the last quarter. Kingdom Financial Group LLC. purchased a new position in Paychex in the 4th quarter worth $33,000. Acumen Wealth Advisors LLC acquired a new stake in Paychex during the 4th quarter worth about $34,000. Finally, Wealth Watch Advisors INC purchased a new stake in Paychex during the 3rd quarter valued at about $42,000. 83.47% of the stock is currently owned by institutional investors.

Insider Activity at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the business’s 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph M. Tucci sold 3,907 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 67,364 shares of the company’s stock, valued at $6,618,513. The trade was a 5.48% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PAYX shares. TD Cowen increased their price target on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, June 8th. Stifel Nicolaus lifted their price objective on shares of Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. UBS Group upped their price objective on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, June 25th. Finally, Citigroup boosted their target price on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Paychex has an average rating of “Hold” and a consensus target price of $109.20.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $124.88 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average of $112.62 and a 200 day moving average of $100.57. The firm has a market cap of $44.42 billion, a PE ratio of 25.54 and a beta of 0.81. Paychex, Inc. has a one year low of $85.45 and a one year high of $139.53.

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 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 business 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 firm posted $1.19 earnings per share. The company’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, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, July 28th. Paychex’s payout ratio is presently 97.34%.

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.