Resona Asset Management Co. Ltd. Has $14.43 Million Position in Paychex, Inc. $PAYX

Resona Asset Management Co. Ltd. lessened its position in Paychex, Inc. (NASDAQ:PAYX) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,602 shares of the business services provider’s stock after selling 6,271 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Paychex were worth $14,431,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Paychex by 1.0% in the second quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock valued at $1,012,000 after buying an additional 71 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Paychex by 0.7% during the second quarter. Empirical Finance LLC now owns 11,267 shares of the business services provider’s stock worth $1,639,000 after buying an additional 75 shares in the last quarter. Quantum Portfolio Management LLC increased its holdings in shares of Paychex by 3.1% during the second quarter. Quantum Portfolio Management LLC now owns 2,464 shares of the business services provider’s stock worth $358,000 after buying an additional 75 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of Paychex by 40.6% in the second quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, QTR Family Wealth LLC boosted its holdings in shares of Paychex by 2.5% in the 2nd quarter. QTR Family Wealth LLC now owns 3,107 shares of the business services provider’s stock worth $452,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.5%

PAYX stock opened at $106.63 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.17. Paychex, Inc. has a twelve month low of $106.47 and a twelve month high of $161.24. The company has a market cap of $38.28 billion, a P/E ratio of 24.18 and a beta of 0.91. The business has a fifty day moving average of $111.88 and a 200-day moving average of $124.88.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Friday, December 19th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Paychex had a return on equity of 46.38% and a net margin of 26.45%.The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex announced that its board has approved a share repurchase program on Friday, January 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, January 28th will be given a dividend of $1.08 per share. The ex-dividend date is Wednesday, January 28th. This represents a $4.32 annualized dividend and a dividend yield of 4.1%. Paychex’s payout ratio is currently 97.96%.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a report on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of Paychex in a research note on Monday, December 1st. Royal Bank Of Canada lowered their target price on Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a research note on Friday, December 5th. JPMorgan Chase & Co. cut their price target on Paychex from $140.00 to $125.00 and set an “underweight” rating for the company in a report on Monday, December 22nd. Finally, UBS Group reduced their price target on shares of Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $125.67.

About Paychex

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.