Louisiana State Employees Retirement System Reduces Stock Position in Paychex, Inc. $PAYX

Louisiana State Employees Retirement System reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,200 shares of the business services provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Paychex were worth $6,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Summit Wealth Partners LLC grew its position in Paychex by 2.4% in the 1st quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider’s stock worth $467,000 after purchasing an additional 70 shares during the period. LGT Group Foundation grew its position in Paychex by 2.8% in the 1st quarter. LGT Group Foundation now owns 2,528 shares of the business services provider’s stock worth $390,000 after purchasing an additional 70 shares during the period. Golden State Equity Partners grew its position in shares of Paychex by 0.9% during the 1st quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider’s stock valued at $1,176,000 after acquiring an additional 71 shares during the period. Palumbo Wealth Management LLC grew its position in shares of Paychex by 2.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider’s stock valued at $492,000 after acquiring an additional 74 shares during the period. Finally, King Wealth Management Group grew its position in shares of Paychex by 4.7% during the 1st quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 75 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Paychex Stock Down 0.3%

Shares of PAYX stock opened at $126.59 on Thursday. The stock has a market cap of $45.56 billion, a P/E ratio of 28.45, a PEG ratio of 2.90 and a beta of 0.92. Paychex, Inc. has a 52 week low of $119.02 and a 52 week 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’s fifty day simple moving average is $134.43 and its two-hundred day simple moving average is $143.99.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Analysts predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PAYX shares. Stephens started coverage on shares of Paychex in a research report on Monday. They set an “equal weight” rating and a $135.00 price objective for the company. Argus cut their price objective on shares of Paychex from $170.00 to $150.00 in a research report on Thursday, October 2nd. Weiss Ratings raised shares of Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Jefferies Financial Group set a $130.00 price objective on shares of Paychex in a research report on Tuesday, September 30th. Finally, Stifel Nicolaus cut their price objective on shares of Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $141.29.

Insider Buying and Selling

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total value of $1,755,550.40. Following the sale, the chief executive officer owned 81,755 shares in the company, valued at $11,602,669.60. The trade was a 13.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by 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.