Paychex, Inc. $PAYX Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 55.7% in the 3rd quarter, Holdings Channel reports. The firm owned 4,470 shares of the business services provider’s stock after selling 5,609 shares during the period. Procyon Advisors LLC’s holdings in Paychex were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Heartwood Wealth Advisors LLC purchased a new stake in shares of Paychex in the third quarter valued at about $25,000. NewSquare Capital LLC grew its holdings in shares of Paychex by 83.8% during the second quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its position in Paychex by 40.6% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock worth $38,000 after acquiring an additional 76 shares during the period. Whipplewood Advisors LLC lifted its position in Paychex by 94.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 293 shares of the business services provider’s stock worth $43,000 after acquiring an additional 142 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Paychex by 193.2% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 0.6%

Shares of PAYX opened at $111.18 on Friday. Paychex, Inc. has a twelve month low of $107.80 and a twelve month high of $161.24. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $39.91 billion, a P/E ratio of 25.21 and a beta of 0.91. The firm’s 50-day moving average is $112.25 and its two-hundred day moving average is $126.51.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Friday, December 19th. The business services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Paychex had a return on equity of 46.38% and a net margin of 26.45%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. On average, research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex announced that its Board of Directors has approved a share buyback plan on Friday, January 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Paychex Announces Dividend

The company 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 $1.08 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.9%. Paychex’s dividend payout ratio (DPR) is currently 97.96%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price target on Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research note on Tuesday, December 9th. BMO Capital Markets lowered their price objective on shares of Paychex from $140.00 to $121.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 9th. Robert W. Baird cut their price objective on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Morgan Stanley reduced their target price on shares of Paychex from $133.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Paychex presently has an average 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.