Pinnacle Wealth Planning Services Inc. Purchases New Holdings in Paychex, Inc. $PAYX

Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,778 shares of the business services provider’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Summit Wealth Partners LLC raised its position in Paychex by 2.4% during the 1st quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider’s stock worth $467,000 after buying an additional 70 shares during the last quarter. LGT Group Foundation increased its stake in shares of Paychex by 2.8% during the first quarter. LGT Group Foundation now owns 2,528 shares of the business services provider’s stock worth $390,000 after acquiring an additional 70 shares during the period. Brighton Jones LLC raised its holdings in 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 in the last quarter. King Wealth Management Group lifted its position in Paychex by 4.7% in the first quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 75 shares during the period. Finally, Sunflower Bank N.A. boosted its holdings in Paychex by 3.4% in the 2nd quarter. Sunflower Bank N.A. now owns 2,305 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 75 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Down 0.4%

Paychex stock opened at $109.55 on Thursday. The firm has a market capitalization of $39.43 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27. Paychex, Inc. has a fifty-two week low of $108.00 and a fifty-two week high of $161.24. The stock’s fifty day moving average is $123.07 and its two-hundred day moving average is $138.29.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping 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 business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. Paychex’s dividend payout ratio (DPR) is 97.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAYX. Stifel Nicolaus cut their target price on Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research note on Wednesday, October 1st. TD Cowen reduced their target price on Paychex from $140.00 to $126.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. BMO Capital Markets lowered their price target on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Stephens upgraded shares of Paychex to a “hold” rating in a report on Tuesday, October 7th. Finally, UBS Group decreased their price objective on shares of Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Thirteen equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Paychex currently has an average rating of “Reduce” and a consensus target price of $139.87.

About Paychex

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.