MSH Capital Advisors LLC Takes Position in Paychex, Inc. $PAYX

MSH Capital Advisors LLC purchased a new position in Paychex, Inc. (NASDAQ:PAYX) in the second quarter, Holdings Channel reports. The fund purchased 31,104 shares of the business services provider’s stock, valued at approximately $3,058,000.

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in Paychex by 26.3% in the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after buying an additional 1,190 shares during the period. Bison Wealth LLC lifted its position in Paychex by 3.0% in the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Paychex during the 1st quarter valued at $3,333,000. NewEdge Advisors LLC boosted its stake in shares of Paychex by 3.2% during the 2nd 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. grew its holdings in shares of Paychex by 47.1% during the 2nd quarter. Sei Investments Co. now owns 156,680 shares of the business services provider’s stock valued at $22,790,000 after acquiring an additional 50,169 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $122.50 on Thursday. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $141.19. The business has a 50-day moving average of $110.13 and a two-hundred day moving average of $99.70. The stock has a market capitalization of $43.57 billion, a P/E ratio of 25.05 and a beta of 0.81. 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 (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 24th. The business services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, equities research analysts predict that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, July 28th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a yield of 3.9%. Paychex’s dividend payout ratio is presently 97.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PAYX shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. Morgan Stanley lifted their price objective on Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped 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. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $107.00 target price on shares of Paychex in a research report on Monday, July 20th. Finally, TD Cowen raised their price target on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.20.

Insider Activity at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the business’s 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 transaction, the chief financial officer owned 18,547 shares of the company’s stock, valued at $2,134,574.23. The trade was a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.

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.