Turtle Creek Wealth Advisors LLC Acquires Shares of 5,897 Paychex, Inc. $PAYX

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,897 shares of the business services provider’s stock, valued at approximately $543,000.

Other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Paychex in the third quarter valued at $27,000. Cornerstone Planning Group LLC increased its stake in Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after buying an additional 268 shares during the period. Stance Capital LLC acquired a new position in Paychex in the 3rd quarter worth $31,000. Hilton Head Capital Partners LLC acquired a new position in Paychex in the 4th quarter worth $31,000. Finally, Kingdom Financial Group LLC. purchased a new position in Paychex in the 4th quarter valued at about $33,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

Shares of PAYX stock opened at $106.35 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. Paychex, Inc. has a one year low of $85.45 and a one year high of $148.11. The company’s 50-day simple moving average is $96.60 and its 200-day simple moving average is $98.76. The stock has a market capitalization of $38.10 billion, a price-to-earnings ratio of 21.75 and a beta of 0.84.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Paychex’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. Equities analysts anticipate that Paychex, Inc. will post 5.97 earnings per share for the current fiscal year.

Paychex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a $1.19 dividend. This is a positive change from Paychex’s previous quarterly dividend of $1.08. The ex-dividend date was Wednesday, May 13th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.5%. Paychex’s dividend payout ratio (DPR) is presently 97.34%.

Insider Buying and Selling at Paychex

In related news, Director Joseph M. Tucci sold 3,907 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total transaction of $383,862.75. Following the sale, the director directly owned 67,364 shares of the company’s stock, valued at approximately $6,618,513. This represents a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PAYX shares. JPMorgan Chase & Co. lifted their target price on Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, June 25th. Argus raised Paychex to a “strong-buy” rating in a report on Friday, March 27th. Guggenheim began coverage on Paychex in a research note on Thursday, March 19th. They set a “neutral” rating for the company. Robert W. Baird dropped their price objective on Paychex from $148.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Finally, UBS Group cut their target price on Paychex from $100.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex has a consensus rating of “Hold” and an average price target of $105.80.

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.