Segment Wealth Management LLC Sells 784 Shares of Paychex, Inc. $PAYX

Segment Wealth Management LLC trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,880 shares of the business services provider’s stock after selling 784 shares during the quarter. Segment Wealth Management LLC’s holdings in Paychex were worth $855,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Summit Wealth Partners LLC increased its position in Paychex by 2.4% during the first quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider’s stock worth $467,000 after acquiring an additional 70 shares during the period. LGT Group Foundation increased its holdings in Paychex by 2.8% in the 1st quarter. LGT Group Foundation now owns 2,528 shares of the business services provider’s stock valued at $390,000 after buying an additional 70 shares during the period. Golden State Equity Partners increased its holdings in Paychex by 0.9% in the 1st quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider’s stock valued at $1,176,000 after buying an additional 71 shares during the period. Palumbo Wealth Management LLC increased its holdings in Paychex by 2.4% in the 1st quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider’s stock valued at $492,000 after buying an additional 74 shares during the period. Finally, King Wealth Management Group increased its holdings in Paychex by 4.7% in the 1st quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock valued at $257,000 after buying an additional 75 shares during the period. 83.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup decreased their target price on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. TD Cowen decreased their target price on shares of Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday. Stifel Nicolaus decreased their target price on shares of Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a report on Wednesday. Royal Bank Of Canada set a $165.00 target price on shares of Paychex and gave the company a “sector perform” rating in a report on Tuesday, June 24th. Finally, Barclays set a $155.00 price target on shares of Paychex and gave the company an “equal weight” rating in a research note on Tuesday, June 24th. Twelve research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $142.77.

Paychex Stock Up 1.0%

Shares of NASDAQ PAYX opened at $124.61 on Friday. The company has a market capitalization of $44.85 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Paychex, Inc. has a 52-week low of $119.02 and a 52-week high of $161.24. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.28 and a current ratio of 1.27. The company’s 50 day moving average price is $135.66 and its 200-day moving average price is $144.37.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Equities analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

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

Insider Buying and Selling at Paychex

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

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.