Paychex, Inc. $PAYX Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,294 shares of the business services provider’s stock after selling 10,933 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Paychex were worth $14,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC acquired a new stake in Paychex during the 3rd quarter worth about $25,000. NewSquare Capital LLC boosted its stake in shares of Paychex by 83.8% in the second quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in Paychex by 40.6% during the second quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in Paychex by 94.0% in the second quarter. Whipplewood Advisors LLC now owns 293 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 142 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Paychex by 193.2% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the business services provider’s stock worth $44,000 after purchasing an additional 228 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Trading Down 0.9%

Shares of Paychex stock opened at $112.69 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.17. Paychex, Inc. has a twelve month low of $107.80 and a twelve month high of $161.24. The firm has a market capitalization of $40.45 billion, a PE ratio of 25.55 and a beta of 0.91. The firm’s 50-day moving average price is $112.55 and its 200 day moving average price is $127.22.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Friday, December 19th. The business services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. Paychex had a return on equity of 46.38% and a net margin of 26.45%.Paychex’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. On average, sell-side analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PAYX shares. Citigroup decreased their target price on shares of Paychex from $139.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Royal Bank Of Canada decreased their price objective on shares of Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a research report on Friday, December 5th. Stephens lowered their target price on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, December 22nd. UBS Group dropped their target price on Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Paychex in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $125.67.

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.