Nisa Investment Advisors LLC Raises Stock Holdings in Paychex, Inc. $PAYX

Nisa Investment Advisors LLC increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 8.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 118,126 shares of the business services provider’s stock after acquiring an additional 9,517 shares during the period. Nisa Investment Advisors LLC’s holdings in Paychex were worth $14,974,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Paychex during the third quarter worth $73,000. Kingswood Wealth Advisors LLC increased its stake in Paychex by 7.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,255 shares of the business services provider’s stock worth $286,000 after buying an additional 163 shares during the period. Benjamin Edwards Inc. lifted its holdings in Paychex by 5.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 109,614 shares of the business services provider’s stock valued at $13,896,000 after buying an additional 5,970 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Paychex in the 3rd quarter valued at about $289,000. Finally, HB Wealth Management LLC grew its stake in Paychex by 23.1% in the 3rd quarter. HB Wealth Management LLC now owns 13,879 shares of the business services provider’s stock worth $1,759,000 after acquiring an additional 2,602 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYX. Robert W. Baird reduced their target price on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their price objective on Paychex from $140.00 to $125.00 and set an “underweight” rating on the stock in a report on Monday, December 22nd. Royal Bank Of Canada lowered their target price on Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a report on Friday, December 5th. Cowen restated a “hold” rating on shares of Paychex in a research note on Monday, December 1st. Finally, UBS Group decreased their price objective on Paychex from $140.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Paychex currently has an average rating of “Reduce” and a consensus target price of $125.67.

Paychex Stock Performance

Shares of PAYX opened at $113.77 on Friday. Paychex, Inc. has a 12 month low of $107.80 and a 12 month high of $161.24. The stock has a fifty day moving average price of $112.60 and a 200-day moving average price of $127.66. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.17. The firm has a market cap of $40.84 billion, a PE ratio of 25.80 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last announced its earnings results on Friday, December 19th. The business services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. Paychex had a return on equity of 46.38% and a net margin of 26.45%.The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the business earned $1.14 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. Equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

About Paychex

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.