ProShare Advisors LLC Buys 10,696 Shares of Paychex, Inc. $PAYX

ProShare Advisors LLC grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,061 shares of the business services provider’s stock after buying an additional 10,696 shares during the quarter. ProShare Advisors LLC’s holdings in Paychex were worth $38,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYX. Field & Main Bank bought a new stake in shares of Paychex in the second quarter worth $33,000. Leonteq Securities AG lifted its holdings in Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 347 shares during the period. Castleark Management LLC bought a new position in Paychex in the second quarter valued at about $35,000. Elevation Wealth Partners LLC lifted its holdings in Paychex by 45.5% in the second quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 125 shares during the period. Finally, Latitude Advisors LLC purchased a new position in Paychex in the third quarter worth about $41,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of PAYX opened at $112.12 on Monday. The firm has a market cap of $39.91 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The company has a 50 day simple moving average of $112.80 and a two-hundred day simple moving average of $103.59. Paychex, Inc. has a 1 year low of $85.45 and a 1 year high of $127.98. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.28 and a quick ratio of 1.28.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company earned $1.22 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, equities analysts expect that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, October 26th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, October 26th. Paychex’s payout ratio is currently 94.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and set a $130.00 price target on shares of Paychex in a research note on Thursday, September 24th. Bank of America lowered their price objective on shares of Paychex from $450.00 to $225.00 in a research note on Wednesday, July 15th. Stephens dropped their price objective on shares of Paychex from $132.00 to $113.00 and set an “equal weight” rating on the stock in a report on Thursday, September 24th. Guggenheim restated a “neutral” rating on shares of Paychex in a research report on Thursday, September 17th. Finally, Stifel Nicolaus reduced their target price on shares of Paychex from $130.00 to $112.00 and set a “hold” rating for the company in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Paychex currently has an average rating of “Hold” and an average price target of $127.88.

Insider Activity at Paychex

In related news, Director Joseph Velli sold 7,839 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total transaction of $844,103.52. Following the completion of the transaction, the director directly owned 81,725 shares of the company’s stock, valued at approximately $8,800,148. This represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Paychex Company Profile

Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.

The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.

Paychex was founded in 1971 by B.