TCM Advisors LLC Takes $718,000 Position in Paychex, Inc. $PAYX

TCM Advisors LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,300 shares of the business services provider’s stock, valued at approximately $718,000.

A number of other institutional investors also recently modified their holdings of the business. 44 Wealth Management LLC boosted its stake in Paychex by 2.7% in the second quarter. 44 Wealth Management LLC now owns 3,290 shares of the business services provider’s stock valued at $479,000 after buying an additional 86 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Paychex by 3.5% in the second quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 89 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Paychex by 1.4% in the third quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock valued at $922,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Paychex by 14.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 798 shares of the business services provider’s stock worth $90,000 after acquiring an additional 101 shares in the last quarter. Finally, Zacks Investment Management raised its stake in Paychex by 5.1% during the third quarter. Zacks Investment Management now owns 2,094 shares of the business services provider’s stock worth $265,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Buying and Selling

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at approximately $2,134,574.23. This represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYX has been the subject of a number of research reports. Cantor Fitzgerald reissued an “underweight” rating and issued a $107.00 target price on shares of Paychex in a report on Monday, July 20th. Citigroup lifted their price target on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group upped their price objective 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. TD Cowen increased their price objective on shares of Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, June 8th. Finally, Morgan Stanley raised their target price on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. One 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 company. According to data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $109.20.

Paychex Price Performance

Paychex stock opened at $124.47 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $44.27 billion, a PE ratio of 25.45 and a beta of 0.81. Paychex, Inc. has a 12 month low of $85.45 and a 12 month high of $141.19. The stock has a 50-day moving average price of $111.08 and a two-hundred day moving average price of $99.99.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s quarterly 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. Analysts expect that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be given a dividend of $1.19 per share. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 3.8%. Paychex’s dividend payout ratio (DPR) is currently 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.