QRG Capital Management Inc. Buys 595 Shares of Paychex, Inc. $PAYX

QRG Capital Management Inc. grew its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 65,411 shares of the business services provider’s stock after purchasing an additional 595 shares during the period. QRG Capital Management Inc.’s holdings in Paychex were worth $9,515,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAYX. Alpine Bank Wealth Management bought a new position in Paychex in the 1st quarter worth $34,000. MorganRosel Wealth Management LLC bought a new position in Paychex in the 1st quarter worth $34,000. Quarry LP bought a new position in Paychex in the 1st quarter worth $34,000. Tsfg LLC raised its holdings in Paychex by 122.3% in the 1st quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock worth $35,000 after purchasing an additional 126 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in Paychex in the 1st quarter worth $38,000. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PAYX shares. Royal Bank Of Canada set a $165.00 price target on shares of Paychex and gave the stock a “sector perform” rating in a research note on Tuesday, June 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paychex in a research note on Saturday, September 27th. Argus decreased their price target on shares of Paychex from $170.00 to $150.00 in a research note on Thursday. Morgan Stanley decreased their price target on shares of Paychex from $148.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets decreased their price target on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a research note on Wednesday. Twelve investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $142.77.

Paychex Stock Performance

PAYX opened at $124.61 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.28 and a debt-to-equity ratio of 1.15. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.85 and a beta of 0.92. The company’s 50 day moving average is $135.66 and its 200 day moving average is $144.37. Paychex, Inc. has a 12-month low of $119.02 and a 12-month high of $161.24.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS 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 analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $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. On average, equities research analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were paid a dividend of $1.08 per share. The ex-dividend date was Monday, July 21st. This represents a $4.32 dividend on an annualized basis and a yield of 3.5%. Paychex’s dividend payout ratio (DPR) is presently 97.08%.

Insider Buying and Selling

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the sale, the chief executive officer owned 81,755 shares in the company, valued at approximately $11,602,669.60. This trade represents a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin Mucci sold 97,526 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the sale, the chairman owned 446,917 shares in the company, valued at approximately $64,878,940.89. The trade was a 17.91% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

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.