Conning Inc. Has $30.94 Million Holdings in Paychex, Inc. $PAYX

Conning Inc. grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,096 shares of the business services provider’s stock after buying an additional 29,023 shares during the quarter. Conning Inc. owned approximately 0.07% of Paychex worth $30,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PAYX. Heartwood Wealth Advisors LLC acquired a new stake in Paychex in the third quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Paychex by 83.8% during the 2nd quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in shares of Paychex by 40.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Whipplewood Advisors LLC boosted 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 worth $43,000 after purchasing an additional 142 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Paychex by 193.2% in the third 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. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Up 0.6%

Shares of PAYX stock opened at $110.29 on Thursday. The stock has a 50 day moving average of $112.32 and a 200-day moving average of $126.86. The firm has a market cap of $39.59 billion, a PE ratio of 25.01 and a beta of 0.91. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.17. Paychex, Inc. has a 12 month low of $107.80 and a 12 month high of $161.24.

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

Analysts Set New Price Targets

A number of analysts have weighed in on PAYX shares. Jefferies Financial Group set a $110.00 price target on Paychex in a research report on Friday, December 19th. Stephens decreased their target price on Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, December 22nd. Royal Bank Of Canada lowered their price target on Paychex from $150.00 to $125.00 and set a “sector perform” rating on the stock in a report on Friday, December 5th. Argus dropped their price target on shares of Paychex from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, January 2nd. Finally, Cowen reaffirmed a “hold” rating on shares of Paychex in a report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Paychex has a consensus rating of “Reduce” and an average price target 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.