Skandinaviska Enskilda Banken AB publ Has $39.18 Million Position in Paychex, Inc. $PAYX

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,328 shares of the business services provider’s stock after selling 2,444 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Paychex were worth $39,179,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAYX. Neuberger Berman Group LLC lifted its stake in Paychex by 3.9% in the second quarter. Neuberger Berman Group LLC now owns 1,264,282 shares of the business services provider’s stock valued at $183,860,000 after acquiring an additional 47,190 shares during the last quarter. Norges Bank acquired a new position in shares of Paychex during the 2nd quarter worth about $302,244,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Paychex by 1.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 46,047 shares of the business services provider’s stock valued at $6,698,000 after purchasing an additional 849 shares during the period. Groupama Asset Managment acquired a new stake in Paychex in the 2nd quarter valued at about $514,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Paychex by 1.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 314,729 shares of the business services provider’s stock worth $45,780,000 after purchasing an additional 4,210 shares during the period. Institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens upgraded Paychex to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Paychex in a report on Tuesday. Argus dropped their price target on Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. Stifel Nicolaus reduced 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. Finally, Wells Fargo & Company upgraded shares of Paychex to a “strong sell” rating in a report on Wednesday, October 22nd. Thirteen investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $139.87.

Paychex Price Performance

Paychex stock opened at $111.41 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27. Paychex, Inc. has a 52 week low of $108.00 and a 52 week high of $161.24. The stock has a market capitalization of $40.10 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. The stock has a fifty day moving average of $120.41 and a 200-day moving average of $136.73.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion during 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 firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, sell-side analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $4.32 annualized dividend and a yield of 3.9%. Paychex’s payout ratio is presently 97.08%.

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.