Quantinno Capital Management LP Increases Position in Paychex, Inc. $PAYX

Quantinno Capital Management LP grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 126.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 388,686 shares of the business services provider’s stock after acquiring an additional 216,781 shares during the period. Quantinno Capital Management LP’s holdings in Paychex were worth $35,806,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PAYX. Cornerstone Planning Group LLC boosted its holdings in Paychex by 957.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after acquiring an additional 268 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Paychex during the fourth quarter valued at $31,000. Kingdom Financial Group LLC. purchased a new position in shares of Paychex in the 4th quarter worth about $33,000. Leonteq Securities AG raised its position in shares of Paychex by 2,669.2% in the 1st quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after purchasing an additional 347 shares during the last quarter. Finally, Acumen Wealth Advisors LLC bought a new position in Paychex in the 4th quarter worth about $34,000. 83.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PAYX. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Weiss Ratings raised shares of Paychex from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. TD Cowen upped 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. Morgan Stanley increased their price target on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Finally, Stifel Nicolaus raised their price target 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. 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. According to data from MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus price target of $108.20.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $116.33 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 23.79 and a beta of 0.84. The business has a 50-day simple moving average of $104.03 and a two-hundred day simple moving average of $98.48. Paychex, Inc. has a fifty-two week low of $85.45 and a fifty-two week high of $146.83.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $1.19 EPS. 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, analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be issued a $1.19 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 annualized dividend and a yield of 4.1%. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

Insider Activity at Paychex

In other Paychex news, Director Joseph M. Tucci sold 3,907 shares of the business’s stock in a transaction on 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 sale, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert L. Schrader sold 2,600 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $115.09, for a total value of $299,234.00. Following the transaction, the chief financial officer directly owned 18,547 shares in the company, valued at $2,134,574.23. The trade was a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

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.