PNC Financial Services Group Inc. Cuts Stake in Paychex, Inc. $PAYX

PNC Financial Services Group Inc. cut its stake 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 SEC. The institutional investor owned 707,764 shares of the business services provider’s stock after selling 4,260 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.20% of Paychex worth $102,951,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. NewSquare Capital LLC increased its holdings in shares of Paychex by 83.8% in the 2nd quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. Quarry LP acquired a new stake in Paychex during the first quarter worth approximately $34,000. Nova Wealth Management Inc. purchased a new stake in shares of Paychex during the 1st quarter worth approximately $38,000. GPS Wealth Strategies Group LLC lifted its position in shares of 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 buying an additional 76 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its holdings in shares of Paychex by 94.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 293 shares of the business services provider’s stock valued at $43,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PAYX shares. Wolfe Research reduced their price target on shares of Paychex from $145.00 to $140.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. Argus reduced their target price on Paychex from $170.00 to $150.00 in a report on Thursday, October 2nd. BMO Capital Markets dropped their price target on Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Stephens upgraded Paychex to a “hold” rating in a research note on Tuesday, October 7th. Finally, TD Cowen lowered their target price on shares of Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Thirteen investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $139.87.

Paychex Trading Down 0.5%

Shares of Paychex stock opened at $111.08 on Thursday. The firm has a market cap of $39.98 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. Paychex, Inc. has a 52-week low of $110.16 and a 52-week high of $161.24. The company’s 50-day simple moving average is $125.51 and its 200-day simple moving average is $139.55. 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 (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s 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, equities research analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. Paychex’s dividend payout ratio is currently 97.08%.

About Paychex

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.