Van Cleef Asset Management Inc Has $20.84 Million Stock Position in Paychex, Inc. $PAYX

Van Cleef Asset Management Inc lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,272 shares of the business services provider’s stock after selling 876 shares during the quarter. Paychex makes up about 2.2% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 12th largest position. Van Cleef Asset Management Inc’s holdings in Paychex were worth $20,840,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in Paychex by 83.8% in the second quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock worth $31,000 after purchasing an additional 98 shares during the period. Quarry LP acquired a new position in Paychex during the 1st quarter valued at about $34,000. Nova Wealth Management Inc. bought a new position in shares of Paychex in the 1st quarter valued at about $38,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Paychex by 40.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its position in shares of 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 buying an additional 142 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.8%

Shares of NASDAQ PAYX opened at $111.96 on Friday. Paychex, Inc. has a twelve month low of $110.70 and a twelve month high of $161.24. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 2.68 and a beta of 0.93. 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 moving average is $127.05 and its 200-day moving average is $140.25.

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

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, November 7th. Paychex’s dividend payout ratio is 97.08%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings upgraded shares of Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their price target on Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. BMO Capital Markets decreased their price objective on Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upgraded Paychex to a “strong sell” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $139.87.

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.