Paychex, Inc. $PAYX Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lowered its position in Paychex, Inc. (NASDAQ:PAYX) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 375,588 shares of the business services provider’s stock after selling 3,969 shares during the quarter. Paychex makes up about 3.2% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 6th largest holding. Grandfield & Dodd LLC owned 0.10% of Paychex worth $54,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC boosted its position in Paychex by 83.8% during the second 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 bought a new position in shares of Paychex in the first quarter worth $34,000. Nova Wealth Management Inc. acquired a new position in shares of Paychex in the 1st quarter valued at approximately $38,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Paychex by 40.6% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock worth $38,000 after acquiring an additional 76 shares during the period. Finally, Whipplewood Advisors LLC boosted 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 worth $43,000 after acquiring an additional 142 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. TD Cowen lowered their price objective on shares of Paychex from $140.00 to $126.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. Wells Fargo & Company upgraded shares of Paychex to a “strong sell” rating in a research report on Wednesday, October 22nd. UBS Group reduced their price objective on Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Wolfe Research decreased their price target on shares of Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. Thirteen research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Paychex presently has an average rating of “Reduce” and a consensus target price of $139.87.

Paychex Stock Up 0.6%

Shares of NASDAQ:PAYX opened at $111.80 on Friday. The firm has a market cap of $40.24 billion, a P/E ratio of 25.12, a PEG ratio of 2.68 and a beta of 0.93. Paychex, Inc. has a 52-week low of $109.99 and a 52-week high of $161.24. The business’s 50 day simple moving average is $125.00 and its two-hundred day simple moving average is $139.36. 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 earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s 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, research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 annualized dividend and a dividend yield of 3.9%. Paychex’s dividend payout ratio is currently 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.