Susquehanna Fundamental Investments LLC Lowers Stock Position in Paychex, Inc. $PAYX

Susquehanna Fundamental Investments LLC lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 24.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,759 shares of the business services provider’s stock after selling 45,264 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Paychex were worth $13,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. Brighton Jones LLC boosted its position in shares of Paychex by 26.3% in the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after buying an additional 1,190 shares during the period. Bison Wealth LLC grew its position in Paychex by 3.0% in the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after acquiring an additional 117 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Paychex during the first quarter valued at approximately $3,333,000. NewEdge Advisors LLC boosted its stake in shares of 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 period. Finally, Sei Investments Co. increased its stake in Paychex by 47.1% during the 2nd quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock worth $22,790,000 after buying an additional 50,169 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Performance

PAYX stock opened at $127.04 on Monday. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $139.53. The stock has a market capitalization of $45.19 billion, a price-to-earnings ratio of 25.98 and a beta of 0.81. 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 stock’s fifty day moving average is $113.76 and its two-hundred day moving average is $100.97.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, research analysts predict that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th were given a $1.19 dividend. The ex-dividend date was Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 3.7%. Paychex’s dividend payout ratio is 97.34%.

Insider Activity

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the firm’s 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 sale, the director owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert L. Schrader sold 2,600 shares of Paychex stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $115.09, for a total value 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. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAYX. Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. UBS Group boosted their target price on shares of Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group upped their target price on shares of Paychex from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased 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. Finally, Cantor Fitzgerald reiterated an “underweight” rating and issued a $107.00 price target on shares of Paychex in a research note on Monday, July 20th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Paychex presently has an average rating of “Hold” and an average price target of $109.20.

About Paychex

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.