Bank of New York Mellon Corp Sells 378,162 Shares of Paychex, Inc. $PAYX

Bank of New York Mellon Corp cut its holdings in Paychex, Inc. (NASDAQ:PAYX) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,692,386 shares of the business services provider’s stock after selling 378,162 shares during the period. Bank of New York Mellon Corp owned about 2.41% of Paychex worth $1,264,394,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYX. Quarry LP bought a new position in shares of Paychex in the first quarter valued at approximately $34,000. Nova Wealth Management Inc. bought a new position in Paychex during the first quarter valued at $38,000. Whipplewood Advisors LLC grew its holdings in Paychex by 94.0% during the second quarter. Whipplewood Advisors LLC now owns 293 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 142 shares during the period. Bogart Wealth LLC grew its holdings in Paychex by 32.5% during the second quarter. Bogart Wealth LLC now owns 379 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 93 shares during the period. Finally, Olde Wealth Management LLC bought a new position in Paychex during the first quarter valued at $59,000. 83.47% of the stock is owned by institutional investors.

Paychex Trading Down 0.2%

NASDAQ PAYX opened at $117.03 on Monday. The stock’s 50-day simple moving average is $129.48 and its two-hundred day simple moving average is $141.23. Paychex, Inc. has a twelve month low of $116.08 and a twelve month high of $161.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $42.12 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.68 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last released 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 the consensus estimate of $1.54 billion. During the same quarter last year, the business posted $1.16 earnings per share. The company’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. Research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

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

Analyst Ratings Changes

PAYX has been the subject of several research reports. TD Cowen reduced their price objective on Paychex from $140.00 to $126.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. 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 dropped their target price on Paychex from $170.00 to $150.00 in a research report on Thursday, October 2nd. Jefferies Financial Group set a $130.00 price objective on Paychex in a research report on Tuesday, September 30th. Finally, Citigroup assumed coverage on Paychex in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $139.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $139.87.

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.