RWC Asset Management LLP Sells 13,388 Shares of Paychex, Inc. $PAYX

RWC Asset Management LLP cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,863 shares of the business services provider’s stock after selling 13,388 shares during the period. Paychex accounts for 1.1% of RWC Asset Management LLP’s investment portfolio, making the stock its 25th largest holding. RWC Asset Management LLP’s holdings in Paychex were worth $22,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Paychex during the 2nd quarter worth approximately $302,244,000. Marshall Wace LLP raised its holdings in shares of Paychex by 179.5% during the second quarter. Marshall Wace LLP now owns 1,078,328 shares of the business services provider’s stock valued at $156,854,000 after acquiring an additional 692,533 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Paychex by 29.2% during the second quarter. JPMorgan Chase & Co. now owns 2,542,901 shares of the business services provider’s stock valued at $369,901,000 after buying an additional 574,337 shares during the period. Assenagon Asset Management S.A. raised its stake in Paychex by 209.1% during the third quarter. Assenagon Asset Management S.A. now owns 838,679 shares of the business services provider’s stock valued at $106,311,000 after buying an additional 567,352 shares during the last quarter. Finally, Select Equity Group L.P. increased its position in shares of Paychex by 15.9% during the second quarter. Select Equity Group L.P. now owns 4,051,413 shares of the business services provider’s stock valued at $589,319,000 after acquiring an additional 557,101 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PAYX shares. JPMorgan Chase & Co. cut their price target on Paychex from $140.00 to $125.00 and set an “underweight” rating for the company in a research note on Monday, December 22nd. Stifel Nicolaus decreased their price target on shares of Paychex from $137.00 to $126.00 and set a “hold” rating for the company in a research note on Wednesday, December 17th. Citigroup lowered their price target on shares of Paychex from $139.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Stephens reduced their price objective on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. Finally, Cowen restated a “hold” rating on shares of Paychex in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $125.67.

Paychex Trading Down 0.9%

Shares of Paychex stock opened at $112.69 on Tuesday. Paychex, Inc. has a 1 year low of $107.80 and a 1 year high of $161.24. The company has a market capitalization of $40.45 billion, a P/E ratio of 25.55 and a beta of 0.91. The business has a 50 day moving average price of $112.55 and a 200 day moving average price of $127.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.27 and a quick ratio of 1.27.

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

Paychex Company 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.