Envestnet Asset Management Inc. Sells 102,997 Shares of Paychex, Inc. $PAYX

Envestnet Asset Management Inc. lessened its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.0% in the second quarter, HoldingsChannel reports. The fund owned 1,949,213 shares of the business services provider’s stock after selling 102,997 shares during the period. Envestnet Asset Management Inc.’s holdings in Paychex were worth $283,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Paychex by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 31,807,843 shares of the business services provider’s stock valued at $4,907,314,000 after purchasing an additional 286,818 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Paychex by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock valued at $1,663,474,000 after purchasing an additional 737,542 shares during the last quarter. Northern Trust Corp raised its position in Paychex by 3.8% during the 1st quarter. Northern Trust Corp now owns 4,989,182 shares of the business services provider’s stock valued at $769,731,000 after purchasing an additional 181,628 shares during the last quarter. Invesco Ltd. raised its position in Paychex by 0.7% during the 1st quarter. Invesco Ltd. now owns 4,135,296 shares of the business services provider’s stock valued at $637,993,000 after purchasing an additional 30,670 shares during the last quarter. Finally, Select Equity Group L.P. raised its position in 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 valued at $539,102,000 after purchasing an additional 1,738,372 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Down 0.1%

Shares of NASDAQ:PAYX opened at $124.60 on Monday. Paychex, Inc. has a 52-week low of $119.02 and a 52-week high of $161.24. The firm has a market capitalization of $44.84 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.85 and a beta of 0.92. The stock has a 50 day moving average price of $131.36 and a 200-day moving average price of $142.19. 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 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, equities research analysts anticipate that Paychex, Inc. will post 4.99 EPS 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 paid a $1.08 dividend. The ex-dividend date is Friday, November 7th. This represents a $4.32 annualized dividend and a dividend yield of 3.5%. Paychex’s dividend payout ratio is presently 97.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets lowered their price target on Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. Morgan Stanley upped their price target on Paychex from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Stephens raised Paychex to a “hold” rating in a research report on Tuesday, October 7th. Wolfe Research decreased their target price on Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. Finally, Stifel Nicolaus decreased their target price on Paychex from $142.00 to $137.00 and set a “hold” rating for the company 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 stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $139.87.

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.