Bontempo Ohly Capital Mgmt LLC Cuts Holdings in Paychex, Inc. $PAYX

by · The Cerbat Gem

Bontempo Ohly Capital Mgmt LLC reduced its stake in shares of Paychex, Inc. (NASDAQ:PAYX – Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,474 shares of the business services provider’s stock after selling 1,976 shares during the quarter. Paychex comprises about 2.3% of Bontempo Ohly Capital Mgmt LLC’s investment portfolio, making the stock its 4th largest holding. Bontempo Ohly Capital Mgmt LLC’s holdings in Paychex were worth $4,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in Paychex in the first quarter worth about $34,000. MorganRosel Wealth Management LLC bought a new stake in Paychex in the first quarter worth about $34,000. Quarry LP bought a new stake in Paychex in the first quarter worth about $34,000. Tsfg LLC raised its position in Paychex by 122.3% in the first quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock worth $35,000 after acquiring an additional 126 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new stake in Paychex in the first quarter worth about $38,000. 83.47% of the stock is currently owned by institutional investors.

Paychex Price Performance

NASDAQ PAYX opened at $135.46 on Friday. The stock’s 50-day moving average price is $140.67 and its two-hundred day moving average price is $146.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10. The company has a market cap of $48.71 billion, a PE ratio of 29.64, a PEG ratio of 3.05 and a beta of 0.91. Paychex, Inc. has a 1 year low of $131.83 and a 1 year high of $161.24.

Paychex (NASDAQ:PAYX – Get Free Report) last released its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Paychex had a return on equity of 45.01% and a net margin of 29.75%.The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the business posted $1.12 EPS. Paychex has set its FY 2026 guidance at EPS. On average, analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, July 21st. Paychex’s payout ratio is 94.53%.

Insider Activity

In other Paychex news, CEO John B. Gibson sold 12,370 shares of Paychex stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the transaction, the chief executive officer owned 81,755 shares of the company’s stock, valued at $11,602,669.60. The trade was a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Martin Mucci sold 97,526 shares of Paychex stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the transaction, the chairman directly owned 446,917 shares in the company, valued at approximately $64,878,940.89. This trade represents a 17.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Jefferies Financial Group set a $140.00 price target on shares of Paychex and gave the stock a “hold” rating in a research report on Thursday, June 26th. Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the stock a “sector perform” rating in a research report on Tuesday, June 24th. Barclays set a $155.00 price target on shares of Paychex and gave the stock an “equal weight” rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley dropped their price target on shares of Paychex from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Friday, June 27th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Paychex has an average rating of “Reduce” and a consensus target price of $149.70.

Read Our Latest Report on Paychex

Paychex Company Profile

(Free Report)

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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