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

Rockefeller Capital Management L.P. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 133.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,247 shares of the business services provider’s stock after buying 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Select Equity Group L.P. grew its holdings in Paychex by 99.0% in the first quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock worth $539,102,000 after purchasing an additional 1,738,372 shares during the period. Nuveen LLC purchased a new stake in shares of Paychex in the 1st quarter worth approximately $134,192,000. Charles Schwab Investment Management Inc. increased 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 buying an additional 737,542 shares in the last quarter. Neuberger Berman Group LLC increased its position in Paychex by 117.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock valued at $187,512,000 after buying an additional 657,871 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Paychex by 25.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,844,949 shares of the business services provider’s stock valued at $438,919,000 after buying an additional 581,410 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PAYX shares. Wolfe Research cut their target price on Paychex from $145.00 to $140.00 and set an “underperform” rating on the stock in a research note on Friday, September 26th. Jefferies Financial Group set a $130.00 target price on shares of Paychex in a research note on Tuesday, September 30th. Robert W. Baird cut their price target on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Morgan Stanley raised their price target on shares of Paychex from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Finally, Argus lowered their price objective on Paychex from $170.00 to $150.00 in a research report on Thursday, October 2nd. Thirteen investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Paychex has an average rating of “Reduce” and a consensus target price of $139.87.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $109.55 on Thursday. The firm’s 50-day moving average price is $123.07 and its 200-day moving average price is $138.29. Paychex, Inc. has a 52-week low of $108.00 and a 52-week high of $161.24. The company has a market cap of $39.43 billion, a PE ratio of 24.62, a PEG ratio of 2.68 and a beta of 0.93. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, beating 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 the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter 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, analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company 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. This represents a $4.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, November 7th. Paychex’s dividend payout ratio is 97.08%.

Paychex 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.