Sumitomo Mitsui Trust Group Inc. Has $129.83 Million Stake in Paychex, Inc. $PAYX

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 892,527 shares of the business services provider’s stock after acquiring an additional 7,121 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Paychex worth $129,827,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock worth $801,000 after purchasing an additional 1,190 shares during the period. Bison Wealth LLC increased its position in Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares during the period. GAMMA Investing LLC increased its position in Paychex by 31.8% during the 1st quarter. GAMMA Investing LLC now owns 7,474 shares of the business services provider’s stock worth $1,153,000 after buying an additional 1,804 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Paychex by 7.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider’s stock worth $1,174,000 after buying an additional 502 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Paychex by 161.1% in the first quarter. Golden State Wealth Management LLC now owns 1,094 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analysts Set New Price Targets

PAYX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Argus dropped their price target on Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. Morgan Stanley upped their price objective on shares of Paychex from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Jefferies Financial Group set a $130.00 target price on shares of Paychex in a report on Tuesday, September 30th. Finally, Stifel Nicolaus cut their price target on shares of Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $139.87.

Paychex Trading Down 0.1%

Shares of Paychex stock opened at $124.60 on Friday. The firm’s 50 day moving average is $131.36 and its 200 day moving average is $142.22. The firm has a market capitalization of $44.84 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Paychex, Inc. has a 1 year low of $119.02 and a 1 year 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 1.15.

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

Paychex Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 7th. This represents a $4.32 dividend on an annualized basis and a yield of 3.5%. Paychex’s payout ratio is currently 97.08%.

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.