Vise Technologies Inc. Takes $1.51 Million Position in Paychex, Inc. $PAYX

Vise Technologies Inc. purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 15,408 shares of the business services provider’s stock, valued at approximately $1,515,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Paychex by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after buying an additional 4,583,157 shares during the period. Capital International Investors boosted its stake in shares of Paychex by 59.1% during the 4th quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock worth $3,395,583,000 after acquiring an additional 11,243,295 shares during the period. BlackRock Inc. bought a new position in shares of Paychex during the 2nd quarter worth approximately $2,728,970,000. State Street Corp increased its holdings in shares of Paychex by 1.6% during the 4th quarter. State Street Corp now owns 13,988,393 shares of the business services provider’s stock worth $1,569,218,000 after acquiring an additional 216,045 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Paychex by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,550,173 shares of the business services provider’s stock worth $1,295,698,000 after acquiring an additional 263,152 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert L. Schrader sold 2,600 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at approximately $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. 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 company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the transaction, the director owned 67,364 shares in the company, valued at $6,618,513. This trade represents a 5.48% 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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAYX. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a report on Thursday, May 28th. Morgan Stanley lifted their price objective on shares of Paychex from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price objective on shares of Paychex from $100.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, June 25th. Stifel Nicolaus increased their price objective on shares of Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. Finally, TD Cowen raised their target price on shares of Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have issued 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, the stock has a consensus rating of “Hold” and an average price target of $109.20.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $124.47 on Friday. The firm has a market cap of $44.27 billion, a P/E ratio of 25.45 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $141.19. The business’s 50 day moving average is $111.08 and its 200-day moving average is $100.01.

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. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities research analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued 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 dividend 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.