Studio Investment Management LLC Has $880,000 Stock Holdings in Paychex, Inc. $PAYX

Studio Investment Management LLC lessened its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,051 shares of the business services provider’s stock after selling 232 shares during the quarter. Studio Investment Management LLC’s holdings in Paychex were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAYX. Select Equity Group L.P. lifted its stake in shares of Paychex by 99.0% during the 1st quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock worth $539,102,000 after buying an additional 1,738,372 shares during the last quarter. Nuveen LLC bought a new position in Paychex during the first quarter worth about $134,192,000. Charles Schwab Investment Management Inc. increased its position in Paychex by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock worth $1,663,474,000 after acquiring an additional 737,542 shares during the period. Neuberger Berman Group LLC increased its position in Paychex by 117.6% during the first quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock worth $187,512,000 after acquiring an additional 657,871 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Paychex by 25.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,844,949 shares of the business services provider’s stock worth $438,919,000 after acquiring an additional 581,410 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stephens raised shares of Paychex to a “hold” rating in a research report on Tuesday, October 7th. Citigroup lowered their price target on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the stock a “sector perform” rating in a research report on Tuesday, June 24th. Barclays set a $155.00 price target on shares of Paychex and gave the stock an “equal weight” rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $140.47.

Paychex Price Performance

PAYX stock opened at $127.54 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. Paychex, Inc. has a 12 month low of $119.02 and a 12 month high of $161.24. The firm has a market cap of $45.90 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.89 and a beta of 0.92. The company’s 50-day moving average price is $132.13 and its two-hundred day moving average price is $142.49.

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

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 annualized dividend and a dividend yield of 3.4%. Paychex’s payout ratio is 97.08%.

Paychex 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.