Decker Wealth Management LLC Makes New $407,000 Investment in Paychex, Inc. $PAYX

Decker Wealth Management LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,421 shares of the business services provider’s stock, valued at approximately $407,000.

Several other institutional investors have also modified their holdings of PAYX. Capital International Investors increased its stake in shares of Paychex by 59.1% during the fourth quarter. Capital International Investors now owns 30,265,174 shares of the business services provider’s stock worth $3,395,583,000 after purchasing an additional 11,243,295 shares in the last quarter. Vanguard Group Inc. lifted its stake in Paychex by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 42,348,625 shares of the business services provider’s stock valued at $4,750,669,000 after buying an additional 4,583,157 shares in the last quarter. Federated Hermes Inc. lifted its stake in Paychex by 4,141.2% in the 4th quarter. Federated Hermes Inc. now owns 2,409,229 shares of the business services provider’s stock valued at $270,267,000 after buying an additional 2,352,423 shares in the last quarter. Norges Bank acquired a new stake in Paychex in the 4th quarter worth about $257,699,000. Finally, Voloridge Investment Management LLC acquired a new stake in Paychex in the 3rd quarter worth about $117,809,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

PAYX opened at $114.39 on Monday. Paychex, Inc. has a twelve month low of $85.45 and a twelve month high of $148.11. The firm has a market capitalization of $40.98 billion, a PE ratio of 23.39 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. The firm’s 50-day moving average price is $100.05 and its 200 day moving average price is $98.28.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data 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 company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. Paychex’s quarterly revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. As a group, sell-side analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently declared 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. This represents a $4.76 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, July 28th. Paychex’s dividend payout ratio (DPR) is currently 97.34%.

Wall Street Analyst Weigh In

Several research firms have commented on PAYX. UBS Group cut their price objective on Paychex from $100.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, June 25th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paychex in a research report on Thursday, May 28th. Jefferies Financial Group lowered their price target on Paychex from $110.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Robert W. Baird dropped their price target on Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, TD Cowen increased their price objective on Paychex from $94.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.80.

Insider Activity at Paychex

In related news, 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 transaction of $383,862.75. Following the transaction, the director owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.