Paychex, Inc. $PAYX Stock Holdings Increased by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 35.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,766 shares of the business services provider’s stock after acquiring an additional 14,736 shares during the period. Kestra Advisory Services LLC’s holdings in Paychex were worth $5,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYX. XXEC Inc. bought a new stake in shares of Paychex in the second quarter valued at about $1,123,016,000. BlackRock Inc. acquired a new stake in shares of Paychex in the second quarter valued at approximately $2,728,970,000. State Street Corp raised its position in shares of Paychex by 2.6% in the second quarter. State Street Corp now owns 14,411,341 shares of the business services provider’s stock valued at $1,417,067,000 after buying an additional 361,713 shares in the last quarter. Bank of America Corp DE acquired a new position in Paychex in the 2nd quarter valued at $434,061,000. Finally, First Trust Advisors LP grew its holdings in shares of Paychex by 13.5% during the 1st quarter. First Trust Advisors LP now owns 2,344,056 shares of the business services provider’s stock worth $215,934,000 after purchasing an additional 278,507 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Performance

PAYX opened at $115.18 on Friday. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.42 and a beta of 0.81. The company’s fifty day moving average price is $111.15 and its two-hundred day moving average price is $103.95. Paychex, Inc. has a 1-year low of $85.45 and a 1-year high of $127.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Paychex had a return on equity of 52.78% and a net margin of 27.35%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, analysts expect that Paychex, Inc. will post 5.96 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, October 26th will be paid a $1.19 dividend. The ex-dividend date is Monday, October 26th. This represents a $4.76 annualized dividend and a yield of 4.1%. Paychex’s dividend payout ratio (DPR) is 94.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Paychex from $130.00 to $112.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. Cantor Fitzgerald decreased their target price on Paychex from $112.00 to $96.00 and set an “underweight” rating on the stock in a research report on Monday, September 28th. TD Cowen reduced their price target on shares of Paychex from $117.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, September 25th. Wolfe Research raised shares of Paychex from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, September 16th. Finally, Robert W. Baird reduced their price objective on Paychex from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.93.

Insider Buying and Selling at Paychex

In related news, Director Joseph Velli sold 7,839 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total transaction of $844,103.52. Following the completion of the sale, the director directly owned 81,725 shares of the company’s stock, valued at approximately $8,800,148. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Paychex Profile

Paychex, Inc. provides payroll, human resources and employee benefits solutions to businesses of varying sizes. Its services include payroll processing, tax administration, time and attendance tools, HR support, employee benefits, retirement services and business insurance. The company also offers professional employer organization services, which let businesses outsource certain employment responsibilities, as well as technology for workforce management, recruiting and compliance. Paychex primarily serves employers in the United States and supports businesses with international workforce needs.