New York State Common Retirement Fund Trims Stock Position in Paychex, Inc. $PAYX

New York State Common Retirement Fund trimmed its stake in Paychex, Inc. (NASDAQ:PAYX) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,465 shares of the business services provider’s stock after selling 23,300 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Paychex worth $26,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYX. Brighton Jones LLC grew its holdings 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 purchasing an additional 71 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Paychex by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 11,267 shares of the business services provider’s stock valued at $1,639,000 after purchasing an additional 75 shares during the period. Quantum Portfolio Management LLC grew its stake 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 buying an additional 75 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in Paychex by 40.6% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock worth $38,000 after buying an additional 76 shares during the last quarter. Finally, Mission Wealth Management LP increased its position in Paychex by 1.9% during the second quarter. Mission Wealth Management LP now owns 4,244 shares of the business services provider’s stock worth $617,000 after buying an additional 78 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Trading Up 0.9%

NASDAQ PAYX opened at $103.13 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $37.02 billion, a P/E ratio of 23.39 and a beta of 0.91. Paychex, Inc. has a 52-week low of $101.04 and a 52-week high of $161.24. The firm has a 50-day moving average price of $111.26 and a 200 day moving average price of $123.62.

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

Paychex declared that its Board of Directors has initiated a share buyback plan on Friday, January 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, January 28th will be given a $1.08 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $4.32 annualized dividend and a yield of 4.2%. Paychex’s dividend payout ratio is presently 97.96%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAYX. 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 report on Monday, December 22nd. JPMorgan Chase & Co. decreased their price target on shares of Paychex from $140.00 to $125.00 and set an “underweight” rating for the company in a research note on Monday, December 22nd. Cantor Fitzgerald upgraded shares of Paychex to a “strong sell” rating in a research note on Tuesday, January 27th. Wolfe Research decreased their target price on shares of Paychex from $130.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus lowered their price target on Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $123.94.

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.