Van Cleef Asset Management Inc Has $21 Million Stake in Paychex, Inc. $PAYX

Van Cleef Asset Management Inc increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 227,971 shares of the business services provider’s stock after acquiring an additional 21,330 shares during the period. Paychex comprises about 2.3% of Van Cleef Asset Management Inc’s portfolio, making the stock its 13th biggest position. Van Cleef Asset Management Inc’s holdings in Paychex were worth $21,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Simplicity Wealth LLC grew its holdings in shares of Paychex by 76.1% during the first quarter. Simplicity Wealth LLC now owns 4,118 shares of the business services provider’s stock worth $379,000 after purchasing an additional 1,780 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Paychex by 2.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,400 shares of the business services provider’s stock valued at $1,695,000 after buying an additional 453 shares during the last quarter. Independence Bank of Kentucky boosted its position in Paychex by 37.7% during the 1st quarter. Independence Bank of Kentucky now owns 17,711 shares of the business services provider’s stock worth $1,632,000 after buying an additional 4,845 shares during the period. Relyea Zuckerberg Hanson LLC boosted its position in Paychex by 18.6% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 4,675 shares of the business services provider’s stock worth $431,000 after buying an additional 732 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Paychex by 0.8% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 58,542 shares of the business services provider’s stock worth $5,393,000 after acquiring an additional 440 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

PAYX has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on shares of Paychex from $110.00 to $105.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Paychex in a research note on Friday, April 24th. TD Cowen boosted their price objective 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. Morgan Stanley increased their price objective on Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Finally, BMO Capital Markets lifted their target price on Paychex to $52.00 and gave the stock an “outperform” rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.80.

Insider Activity at Paychex

In related news, Director Joseph M. Tucci sold 3,907 shares of the firm’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 completion of the sale, the director owned 67,364 shares of the company’s stock, valued at $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

Paychex News Summary

Here are the key news stories impacting Paychex this week:

• Positive Sentiment: Zacks Research lifted multiple earnings estimates for Paychex (PAYX), including FY2027 and FY2029, signaling improved profit expectations and a potentially supportive outlook for the stock.
• Positive Sentiment: Paychex was highlighted among the Nasdaq 100’s highest-yielding stocks, which may attract income-focused investors looking for defensive dividend names.
• Neutral Sentiment: Short-interest data showed no reported short interest, so there is no clear evidence of a meaningful bearish positioning shift in the shares.
• Negative Sentiment: A separate article said Paychex (PAYX) could be as much as 38% below fair value after removal from the Russell Growth Index, suggesting the recent move may be partly tied to index-related repricing and raising valuation concerns. Article Title

Paychex Trading Up 1.2%

PAYX stock traded up $1.28 during midday trading on Friday, hitting $107.54. The stock had a trading volume of 2,179,668 shares, compared to its average volume of 3,609,491. The firm has a market cap of $38.53 billion, a P/E ratio of 21.99 and a beta of 0.84. 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 $148.11. The business has a fifty day moving average price of $98.16 and a two-hundred day moving average price of $98.48.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results 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 net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, sell-side analysts predict that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Wednesday, May 13th. This is a positive change from Paychex’s previous quarterly dividend of $1.08. Paychex’s dividend payout ratio is currently 97.34%.

Paychex Company 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.