Paychex, Inc. $PAYX Holdings Cut by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 42.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,493 shares of the business services provider’s stock after selling 53,924 shares during the quarter. Voya Investment Management LLC’s holdings in Paychex were worth $9,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYX. Heartwood Wealth Advisors LLC bought a new stake in Paychex in the 3rd quarter valued at about $25,000. NewSquare Capital LLC increased its stake in shares of Paychex by 83.8% in the second quarter. NewSquare Capital LLC now owns 215 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the period. Quarry LP acquired a new stake in shares of Paychex in the first quarter valued at approximately $34,000. Nova Wealth Management Inc. bought a new stake in shares of Paychex during the first quarter valued at approximately $38,000. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Paychex by 40.6% during the second 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 period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on PAYX shares. UBS Group cut their target price on Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, October 2nd. Cowen restated a “hold” rating on shares of Paychex in a research note on Monday, December 1st. Wells Fargo & Company reduced their price objective on shares of Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Paychex in a research report on Monday. Finally, Robert W. Baird cut their price objective on Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Fourteen equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Paychex currently has an average rating of “Reduce” and an average target price of $127.00.

Paychex Stock Performance

PAYX stock opened at $114.10 on Wednesday. The firm has a 50 day moving average of $115.54 and a two-hundred day moving average of $130.98. Paychex, Inc. has a 12 month low of $108.00 and a 12 month high of $161.24. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 25.87 and a beta of 0.91. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.17.

Paychex (NASDAQ:PAYX) last posted its earnings results on Friday, December 19th. The business services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Paychex had a return on equity of 46.38% and a net margin of 26.45%.The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. As a group, equities analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 7th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, November 7th. Paychex’s payout ratio is 97.96%.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.