Paychex, Inc. $PAYX Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 707,764 shares of the business services provider’s stock after selling 4,260 shares during the period. PNC Financial Services Group Inc.’s holdings in Paychex were worth $102,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PAYX. Select Equity Group L.P. grew its holdings in Paychex by 99.0% during the 1st quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock valued at $539,102,000 after buying an additional 1,738,372 shares during the last quarter. Nuveen LLC acquired a new position in Paychex in the 1st quarter valued at about $134,192,000. Charles Schwab Investment Management Inc. raised its stake in Paychex by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock valued at $1,663,474,000 after purchasing an additional 737,542 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Paychex by 117.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock valued at $187,512,000 after purchasing an additional 657,871 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Paychex by 25.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,844,949 shares of the business services provider’s stock valued at $438,919,000 after purchasing an additional 581,410 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PAYX shares. UBS Group cut their price objective on shares of Paychex from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Stephens upgraded Paychex to a “hold” rating in a report on Tuesday, October 7th. Stifel Nicolaus reduced their price target on Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets decreased their price objective on Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Thirteen equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $139.87.

Paychex Trading Down 0.5%

Shares of PAYX opened at $111.08 on Thursday. Paychex, Inc. has a twelve month low of $110.16 and a twelve month high of $161.24. The firm has a market capitalization of $39.98 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. 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 stock’s fifty day simple moving average is $125.51 and its 200 day simple moving average is $139.55.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities research analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be given 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 payout ratio is 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.