Studio Investment Management LLC Sells 232 Shares of Paychex, Inc. $PAYX

Studio Investment Management LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,051 shares of the business services provider’s stock after selling 232 shares during the quarter. Studio Investment Management LLC’s holdings in Paychex were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. boosted its position in Paychex by 42.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,525 shares of the business services provider’s stock worth $367,000 after buying an additional 754 shares during the period. Lafayette Investments Inc. boosted its position in Paychex by 1.4% during the 2nd quarter. Lafayette Investments Inc. now owns 88,064 shares of the business services provider’s stock worth $12,810,000 after buying an additional 1,242 shares during the period. Klingman & Associates LLC acquired a new stake in Paychex during the 2nd quarter worth approximately $301,000. Bogart Wealth LLC boosted its position in Paychex by 32.5% during the 2nd quarter. Bogart Wealth LLC now owns 379 shares of the business services provider’s stock worth $55,000 after buying an additional 93 shares during the period. Finally, LMG Wealth Partners LLC boosted its position in Paychex by 5.3% during the 2nd quarter. LMG Wealth Partners LLC now owns 13,183 shares of the business services provider’s stock worth $1,918,000 after buying an additional 667 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Up 0.8%

Paychex stock opened at $127.54 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. Paychex, Inc. has a 12-month low of $119.02 and a 12-month high of $161.24. The firm’s fifty day moving average is $132.13 and its 200 day moving average is $142.49. The company has a market capitalization of $45.90 billion, a PE ratio of 28.66, a PEG ratio of 2.89 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company earned $1.16 EPS. Paychex’s quarterly revenue 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 predict that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, November 7th. Paychex’s payout ratio is presently 97.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PAYX shares. JPMorgan Chase & Co. cut their target price on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Stifel Nicolaus dropped their price target on shares of Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Citigroup dropped their price target on shares of Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Morgan Stanley boosted their price target on shares of Paychex from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research 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.com, the stock presently has a consensus rating of “Reduce” and an average price target of $140.47.

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.