Rockefeller Capital Management L.P. Increases Stake in Paychex, Inc. $PAYX

Rockefeller Capital Management L.P. raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 133.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 88,247 shares of the business services provider’s stock after acquiring an additional 50,376 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Paychex were worth $12,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC raised its holdings in Paychex by 83.8% in the 2nd quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock worth $31,000 after purchasing an additional 98 shares during the period. Quarry LP purchased a new stake in Paychex in the first quarter worth about $34,000. Nova Wealth Management Inc. bought a new position in shares of Paychex in the first quarter worth about $38,000. GPS Wealth Strategies Group LLC raised 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 buying an additional 76 shares during the period. Finally, Whipplewood Advisors LLC lifted its position in shares of Paychex by 94.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 293 shares of the business services provider’s stock valued at $43,000 after buying an additional 142 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several analyst reports. Stephens raised shares of Paychex to a “hold” rating in a report on Tuesday, October 7th. Argus reduced their price objective on shares of Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. BMO Capital Markets decreased their price objective on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a report on Thursday, November 13th. Finally, Wolfe Research cut their price target on Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Thirteen research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $139.87.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $109.55 on Thursday. The firm has a market cap of $39.43 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 2.68 and a beta of 0.93. The firm has a fifty day moving average price of $123.07 and a 200 day moving average price of $138.29. Paychex, Inc. has a fifty-two week low of $108.00 and a fifty-two week high of $161.24. 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 (NASDAQ:PAYX) last announced its quarterly earnings results 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 analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company 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. As a group, sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

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

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.