51,980 Shares in Paychex, Inc. $PAYX Bought by Leuthold Group LLC

Leuthold Group LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 51,980 shares of the business services provider’s stock, valued at approximately $5,120,000.

Several other large investors have also recently bought and sold shares of the business. Field & Main Bank purchased a new stake in shares of Paychex during the 2nd quarter worth $33,000. Castleark Management LLC purchased a new position in shares of Paychex in the 2nd quarter valued at about $35,000. Elevation Wealth Partners LLC increased its holdings in shares of Paychex by 45.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 125 shares in the last quarter. Latitude Advisors LLC purchased a new position in shares of Paychex in the 3rd quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Paychex by 62.5% in the first quarter. Cornerstone Planning Group LLC now owns 481 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Insider Activity at Paychex

In other news, Director Joseph Velli sold 7,839 shares of the stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $107.68, for a total value of $844,103.52. Following the sale, the director directly owned 81,725 shares in the company, valued at $8,800,148. This represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Paychex Trading Down 2.0%

NASDAQ:PAYX opened at $114.76 on Tuesday. Paychex, Inc. has a 52-week low of $85.45 and a 52-week high of $127.98. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $111.75 and a 200-day simple moving average of $103.82. The company has a market capitalization of $40.85 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $1.22 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, equities research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s dividend payout ratio is 94.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Paychex from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $105.00 to $115.00 in a report on Thursday, September 24th. Wolfe Research raised shares of Paychex from an “underperform” rating to a “peer perform” rating in a report on Wednesday, September 16th. Stephens reduced their price target on shares of Paychex from $132.00 to $113.00 and set an “equal weight” rating for the company in a research report on Thursday, September 24th. BMO Capital Markets decreased their price target on Paychex from $118.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, September 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Paychex has an average rating of “Hold” and a consensus target price of $115.93.

About Paychex

Paychex, Inc provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance.

The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.

Founded in Rochester, New York, in 1971 by B.