Bank of Jackson Hole Trust Raises Position in Paychex, Inc. $PAYX

Bank of Jackson Hole Trust raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 12.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,763 shares of the business services provider’s stock after acquiring an additional 617 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Paychex were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Wealth Partners LLC boosted its stake in shares of 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 acquiring an additional 70 shares during the last quarter. LGT Group Foundation boosted its stake in shares of Paychex by 2.8% during the 1st 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 last quarter. Brighton Jones LLC boosted its stake in shares of Paychex by 1.0% during the 2nd quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock worth $1,012,000 after acquiring an additional 71 shares during the last quarter. King Wealth Management Group boosted its stake in shares of Paychex by 4.7% during the 1st quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock worth $257,000 after acquiring an additional 75 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its stake in shares of Paychex by 3.4% during the 2nd quarter. Sunflower Bank N.A. now owns 2,305 shares of the business services provider’s stock worth $335,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

PAYX has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley lifted their target price on shares of Paychex from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Wells Fargo & Company upgraded shares of Paychex to a “strong sell” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Argus lowered their target price on shares of Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Paychex has an average rating of “Reduce” and an average price target of $139.87.

Paychex Stock Down 0.8%

Shares of PAYX stock opened at $124.05 on Wednesday. The stock has a market cap of $44.64 billion, a P/E ratio of 27.88, a PEG ratio of 2.86 and a beta of 0.92. Paychex, Inc. has a 52 week low of $119.02 and a 52 week high of $161.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $130.81 and its two-hundred day simple moving average is $141.90.

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. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders 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 yield of 3.5%. Paychex’s payout ratio is presently 97.08%.

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.