PensionDanmark Pensionsforsikringsaktieselskab Acquires 4,500 Shares of Paychex, Inc. $PAYX

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 11.6% during the second quarter, Holdings Channel.com reports. The firm owned 43,416 shares of the business services provider’s stock after acquiring an additional 4,500 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Paychex were worth $4,269,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYX. Brighton Jones LLC raised its position in Paychex by 26.3% during the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after purchasing an additional 1,190 shares during the last quarter. Bison Wealth LLC grew its position in shares of Paychex by 3.0% in the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after buying an additional 117 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Paychex in the 1st quarter valued at about $3,333,000. NewEdge Advisors LLC increased 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 buying an additional 1,290 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Paychex by 47.1% in the second quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock valued at $22,790,000 after buying an additional 50,169 shares during the period. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

PAYX has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. UBS Group increased their target price on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. TD Cowen raised 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. JPMorgan Chase & Co. boosted 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, Stifel Nicolaus upped 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. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $108.20.

Paychex Stock Performance

NASDAQ PAYX opened at $120.04 on Monday. The stock has a market capitalization of $42.70 billion, a P/E ratio of 24.55 and a beta of 0.81. The business has a 50 day simple moving average of $106.75 and a 200 day simple moving average of $98.80. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26. Paychex, Inc. has a one year low of $85.45 and a one year high of $141.89.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results 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. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Research analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be paid a $1.19 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 4.0%. Paychex’s payout ratio is currently 97.34%.

Insiders Place Their Bets

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the firm’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 completion of the sale, the director directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of Paychex 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 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. This trade represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by insiders.

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.