HB Wealth Management LLC Sells 2,382 Shares of Paychex, Inc. $PAYX

HB Wealth Management LLC trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 17.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,277 shares of the business services provider’s stock after selling 2,382 shares during the period. HB Wealth Management LLC’s holdings in Paychex were worth $1,640,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of Paychex during the 1st quarter worth approximately $34,000. Quarry LP bought a new position in shares of Paychex during the 1st quarter worth approximately $34,000. Alpine Bank Wealth Management bought a new position in shares of Paychex during the 1st quarter worth approximately $34,000. Tsfg LLC boosted its holdings in shares of Paychex by 122.3% during the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock worth $35,000 after buying an additional 126 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Paychex during the 1st quarter worth approximately $38,000. 83.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paychex

In other news, Chairman Martin Mucci sold 97,526 shares of the firm’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the completion of the sale, the chairman directly owned 446,917 shares of the company’s stock, valued at $64,878,940.89. This trade represents a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John B. Gibson sold 12,370 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the sale, the chief executive officer directly owned 81,755 shares of the company’s stock, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAYX. Wolfe Research cut their target price on Paychex from $145.00 to $140.00 and set an “underperform” rating on the stock in a report on Friday, September 26th. Morgan Stanley cut their target price on Paychex from $148.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays set a $155.00 target price on Paychex and gave the stock an “equal weight” rating in a report on Tuesday, June 24th. BMO Capital Markets cut their target price on Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, UBS Group cut their target price on Paychex from $148.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $142.83.

Paychex Trading Down 0.5%

NASDAQ PAYX opened at $123.42 on Friday. The firm has a market capitalization of $44.38 billion, a P/E ratio of 27.73, a PEG ratio of 2.83 and a beta of 0.92. The business has a fifty day simple moving average of $136.13 and a 200 day simple moving average of $144.55. Paychex, Inc. has a 12 month low of $119.02 and a 12 month high of $161.24. The company has a current ratio of 1.27, a quick ratio of 1.28 and a debt-to-equity ratio of 1.15.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.Paychex’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, July 21st were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $4.32 annualized dividend and a dividend yield of 3.5%. Paychex’s dividend payout ratio (DPR) is currently 97.08%.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.