Private Trust Co. NA Sells 213 Shares of Paychex, Inc. $PAYX

Private Trust Co. NA cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,369 shares of the business services provider’s stock after selling 213 shares during the quarter. Private Trust Co. NA’s holdings in Paychex were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of PAYX. Alpine Bank Wealth Management purchased a new stake in shares of Paychex during the 1st quarter valued at approximately $34,000. MorganRosel Wealth Management LLC bought a new stake in Paychex during the 1st quarter valued at $34,000. Quarry LP purchased a new stake in shares of Paychex during the first quarter worth $34,000. Tsfg LLC lifted its position in shares of Paychex by 122.3% during the first quarter. Tsfg LLC now owns 229 shares of the business services provider’s stock worth $35,000 after acquiring an additional 126 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Paychex in the first quarter worth $38,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup decreased their price objective on Paychex from $158.00 to $148.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Argus reduced their target price on Paychex from $170.00 to $150.00 in a report on Thursday, October 2nd. Stifel Nicolaus decreased 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. Jefferies Financial Group set a $130.00 price target on shares of Paychex in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Paychex presently has a consensus rating of “Reduce” and a consensus target price of $141.29.

Paychex Stock Up 0.1%

Shares of NASDAQ PAYX opened at $126.56 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average of $132.52 and a 200-day moving average of $142.78. The firm has a market capitalization of $45.55 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 2.89 and a beta of 0.92. Paychex, Inc. has a 12 month low of $119.02 and a 12 month high of $161.24.

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.4%. Paychex’s dividend payout ratio is 97.08%.

Paychex 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.