Fluent Financial LLC Acquires Shares of 27,686 Paychex, Inc. $PAYX

Fluent Financial LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 27,686 shares of the business services provider’s stock, valued at approximately $2,722,000. Paychex accounts for about 1.0% of Fluent Financial LLC’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Paychex by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock worth $4,750,669,000 after purchasing an additional 4,583,157 shares during the last quarter. Capital International Investors lifted its stake in Paychex by 59.1% in the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock valued at $3,395,583,000 after buying an additional 11,243,295 shares during the last quarter. State Street Corp boosted its stake in Paychex by 1.6% during the 4th quarter. State Street Corp now owns 13,988,393 shares of the business services provider’s stock valued at $1,569,218,000 after purchasing an additional 216,045 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Paychex by 2.3% in 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 buying an additional 263,152 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Paychex by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,705,424 shares of the business services provider’s stock valued at $1,093,958,000 after purchasing an additional 78,760 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity at Paychex

In other Paychex news, CFO Robert L. Schrader sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $115.09, for a total value of $299,234.00. Following the sale, the chief financial officer owned 18,547 shares of the company’s stock, valued at $2,134,574.23. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph M. Tucci sold 3,907 shares of Paychex stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $98.25, for a total value of $383,862.75. Following the completion of the transaction, the director directly owned 67,364 shares in the company, valued at approximately $6,618,513. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PAYX shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th. TD Cowen raised their price objective on Paychex from $94.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, June 8th. UBS Group increased their price objective on Paychex from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Stifel Nicolaus increased their price target on shares of Paychex from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Finally, Cantor Fitzgerald reissued an “underweight” rating and set a $107.00 target price on shares of Paychex in a research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.20.

Paychex Stock Performance

NASDAQ:PAYX opened at $120.04 on Monday. The firm has a market capitalization of $42.70 billion, a PE ratio of 24.55 and a beta of 0.81. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $141.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.22. The firm’s fifty day simple moving average is $106.75 and its 200 day simple moving average is $98.80.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. On average, sell-side analysts anticipate that Paychex, Inc. will post 5.96 EPS for the current year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, July 28th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s 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.