Private Wealth Asset Management LLC Decreases Position in Paychex, Inc. $PAYX

Private Wealth Asset Management LLC lowered its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,368 shares of the business services provider’s stock after selling 93 shares during the quarter. Private Wealth Asset Management LLC’s holdings in Paychex were worth $490,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after purchasing an additional 1,190 shares during the period. Bison Wealth LLC increased its stake in Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares during the period. GAMMA Investing LLC lifted its holdings in Paychex by 31.8% in the 1st quarter. GAMMA Investing LLC now owns 7,474 shares of the business services provider’s stock worth $1,153,000 after buying an additional 1,804 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Paychex by 32.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider’s stock valued at $18,404,000 after buying an additional 29,320 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Paychex by 2.4% during the first quarter. Exchange Traded Concepts LLC now owns 11,805 shares of the business services provider’s stock valued at $1,821,000 after acquiring an additional 280 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Down 0.8%

Shares of NASDAQ:PAYX opened at $127.52 on Thursday. The stock has a market capitalization of $45.89 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.92. Paychex, Inc. has a 1-year low of $119.02 and a 1-year high of $161.24. The company’s fifty day moving average is $133.09 and its two-hundred day moving average is $143.25. 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 posted its quarterly 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. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on PAYX. BMO Capital Markets cut their price target on 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 raised Paychex to a “hold” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their target price on Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings upgraded shares of Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, TD Cowen cut their price target on shares of Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex presently has an average rating of “Reduce” and a consensus price target of $141.29.

Paychex Company 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.