Paychex, Inc. $PAYX Stock Holdings Lowered by Berkeley Inc

Berkeley Inc cut its position in Paychex, Inc. (NASDAQ:PAYX) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,635 shares of the business services provider’s stock after selling 4,686 shares during the quarter. Berkeley Inc’s holdings in Paychex were worth $2,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Paychex by 1.0% during the second quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock worth $1,012,000 after buying an additional 71 shares during the period. Empirical Finance LLC boosted its position in Paychex by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 11,267 shares of the business services provider’s stock worth $1,639,000 after acquiring an additional 75 shares during the period. Quantum Portfolio Management LLC boosted its position in Paychex by 3.1% during the 2nd quarter. Quantum Portfolio Management LLC now owns 2,464 shares of the business services provider’s stock worth $358,000 after acquiring an additional 75 shares during the period. GPS Wealth Strategies Group LLC grew its stake in shares of Paychex by 40.6% in the second quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Finally, QTR Family Wealth LLC increased its holdings in shares of Paychex by 2.5% during the second quarter. QTR Family Wealth LLC now owns 3,107 shares of the business services provider’s stock valued at $452,000 after purchasing an additional 77 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

Shares of PAYX opened at $107.42 on Wednesday. The company has a 50-day moving average of $112.16 and a two-hundred day moving average of $125.69. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 24.36 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.27 and a quick ratio of 1.27. Paychex, Inc. has a one year low of $107.31 and a one year high of $161.24.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Friday, December 19th. The business services provider reported $1.26 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. On average, equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex declared that its board has authorized a stock buyback plan on Friday, January 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, January 28th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, January 28th. Paychex’s payout ratio is presently 97.96%.

Analyst Ratings Changes

PAYX has been the subject of several research analyst reports. Argus reduced their price objective on shares of Paychex from $150.00 to $130.00 and set a “buy” rating for the company in a report on Friday, January 2nd. Jefferies Financial Group set a $110.00 price objective on shares of Paychex in a report on Friday, December 19th. Citigroup lowered their price objective on shares of Paychex from $139.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Morgan Stanley cut their target price on Paychex from $133.00 to $123.00 and set an “equal weight” rating for the company in a research report on Monday, December 22nd. Finally, Wolfe Research decreased their price target on Paychex from $130.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $125.67.

About Paychex

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.