NBH Bank Invests $593,000 in Paychex, Inc. $PAYX

NBH Bank purchased a new position in Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,034 shares of the business services provider’s stock, valued at approximately $593,000.

Several other institutional investors have also bought and sold shares of PAYX. 44 Wealth Management LLC raised its stake in shares of 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 during the period. Smartleaf Asset Management LLC grew its stake in shares of Paychex by 3.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,645 shares of the business services provider’s stock worth $381,000 after acquiring an additional 89 shares during the period. Prosperity Consulting Group LLC grew its stake in shares of Paychex by 1.4% during the 3rd quarter. Prosperity Consulting Group LLC now owns 7,270 shares of the business services provider’s stock worth $922,000 after acquiring an additional 100 shares during the period. SBI Securities Co. Ltd. increased its holdings in Paychex by 14.5% in the 4th 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 during the last quarter. Finally, Zacks Investment Management increased its holdings in Paychex by 5.1% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of PAYX opened at $121.71 on Friday. The stock’s 50-day simple moving average is $116.50 and its 200 day simple moving average is $101.96. The stock has a market capitalization of $43.29 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82. 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 52-week low of $85.45 and a 52-week high of $138.19.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 24th. The business services provider reported $1.32 EPS 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 the consensus estimate of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Research analysts forecast that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is 97.34%.

Insider Buying and Selling

In related news, CFO Robert Schrader sold 2,600 shares of the business’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 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph 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 in the company, valued at $6,618,513. This trade represents a 5.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. UBS Group upped their price objective on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of Paychex from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Cantor Fitzgerald reissued an “underweight” rating and issued a $107.00 price target on shares of Paychex in a research report on Monday, July 20th. Citigroup upped their price target on shares of Paychex from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.00.

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.