HBK Sorce Advisory LLC Sells 198 Shares of Paychex, Inc. $PAYX

HBK Sorce Advisory LLC trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 2.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,125 shares of the business services provider’s stock after selling 198 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Paychex were worth $1,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. Brighton Jones LLC raised its holdings in Paychex by 26.3% during the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after purchasing an additional 1,190 shares during the last quarter. Bison Wealth LLC raised its holdings in Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after purchasing an additional 117 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Paychex by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,049 shares of the business services provider’s stock worth $5,870,000 after purchasing an additional 420 shares during the last quarter. Keybank National Association OH raised its holdings in Paychex by 2.7% during the 1st quarter. Keybank National Association OH now owns 35,232 shares of the business services provider’s stock worth $5,436,000 after purchasing an additional 940 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in Paychex by 24.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 2,421 shares of the business services provider’s stock worth $374,000 after purchasing an additional 472 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Paychex Stock Performance

Shares of PAYX stock opened at $117.23 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $42.19 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.68 and a beta of 0.92. The stock has a 50-day moving average of $129.96 and a 200-day moving average of $141.53. Paychex, Inc. has a one year low of $116.82 and a one year high of $161.24.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business earned $1.16 EPS. Paychex’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, sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 7th. Paychex’s dividend payout ratio is presently 97.08%.

Analyst Ratings Changes

PAYX has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $130.00 price objective on Paychex in a report on Tuesday, September 30th. BMO Capital Markets dropped their price objective on Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company raised Paychex to a “strong sell” rating in a research note on Wednesday, October 22nd. Citigroup initiated coverage on Paychex in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $139.00 price target for the company. Finally, Weiss Ratings raised Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $139.87.

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.