FineMark National Bank & Trust Purchases 3,312 Shares of Paychex, Inc. $PAYX

FineMark National Bank & Trust lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 48.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,110 shares of the business services provider’s stock after purchasing an additional 3,312 shares during the quarter. FineMark National Bank & Trust’s holdings in Paychex were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Paychex by 26.3% during the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after purchasing an additional 1,190 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of Paychex by 3.0% in the fourth quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after buying an additional 117 shares during the period. IFP Advisors Inc increased its position in shares of Paychex by 10.3% during the first quarter. IFP Advisors Inc now owns 7,023 shares of the business services provider’s stock worth $1,090,000 after acquiring an additional 658 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Paychex by 4.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,720 shares of the business services provider’s stock worth $3,814,000 after acquiring an additional 1,001 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Paychex during the first quarter worth $229,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PAYX shares. Wolfe Research lowered their target price on Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a report on Friday, September 26th. 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. Stifel Nicolaus dropped their target price on Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Argus decreased their price target on shares of Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. Finally, Stephens raised shares of Paychex to a “hold” rating in a research report on Tuesday, October 7th. Thirteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $139.87.

Paychex Stock Performance

PAYX opened at $109.55 on Thursday. 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, Inc. has a 12-month low of $108.00 and a 12-month high of $161.24. The business has a 50 day moving average of $123.07 and a 200-day moving average of $138.29. The stock has a market cap of $39.43 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.68 and a beta of 0.93.

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, beating analysts’ consensus estimates of $1.20 by $0.02. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current 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 dividend of $1.08 per share. 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 (DPR) 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.