Paychex, Inc. $PAYX Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its position in Paychex, Inc. (NASDAQ:PAYX) by 15.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,760 shares of the business services provider’s stock after purchasing an additional 1,539 shares during the period. Allworth Financial LP’s holdings in Paychex were worth $1,711,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors lifted its holdings in Paychex by 8.6% in the second quarter. Arkadios Wealth Advisors now owns 53,974 shares of the business services provider’s stock valued at $7,851,000 after acquiring an additional 4,254 shares during the period. Martin Capital Partners LLC increased its holdings in shares of Paychex by 166.9% in the 2nd quarter. Martin Capital Partners LLC now owns 6,340 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 3,965 shares in the last quarter. MWA Asset Management lifted its stake in shares of Paychex by 6.5% in the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider’s stock valued at $659,000 after purchasing an additional 262 shares during the period. Two Point Capital Management Inc. purchased a new stake in Paychex during the second quarter worth about $8,761,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Paychex during the first quarter worth about $832,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. BMO Capital Markets lowered their target price on Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Robert W. Baird cut their price target on Paychex from $153.00 to $148.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Citigroup initiated coverage on shares of Paychex in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $139.00 price objective on the stock. Finally, Jefferies Financial Group set a $130.00 target price on shares of Paychex in a report on Tuesday, September 30th. Thirteen research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $139.87.

Paychex Price Performance

Paychex stock opened at $111.80 on Friday. The stock has a market capitalization of $40.24 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.68 and a beta of 0.93. Paychex, Inc. has a 12-month low of $109.99 and a 12-month high of $161.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The firm’s 50-day moving average is $125.00 and its two-hundred day moving average is $139.36.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.02. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Equities analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.9%. Paychex’s payout ratio is currently 97.08%.

Paychex Company Profile

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.