Penserra Capital Management LLC Has $257,000 Stock Holdings in Paychex, Inc. $PAYX

Penserra Capital Management LLC trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 74.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,771 shares of the business services provider’s stock after selling 5,199 shares during the quarter. Penserra Capital Management LLC’s holdings in Paychex were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Paychex by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 31,807,843 shares of the business services provider’s stock valued at $4,907,314,000 after purchasing an additional 286,818 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Paychex by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,782,173 shares of the business services provider’s stock worth $1,663,474,000 after purchasing an additional 737,542 shares during the period. Northern Trust Corp lifted its stake in shares of Paychex by 3.8% in the first quarter. Northern Trust Corp now owns 4,989,182 shares of the business services provider’s stock valued at $769,731,000 after buying an additional 181,628 shares in the last quarter. Invesco Ltd. increased its holdings in Paychex by 0.7% during the 1st quarter. Invesco Ltd. now owns 4,135,296 shares of the business services provider’s stock worth $637,993,000 after purchasing an additional 30,670 shares in the last quarter. Finally, Select Equity Group L.P. grew its holdings in Paychex by 99.0% during the first quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock worth $539,102,000 after buying an additional 1,738,372 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Trading Down 0.5%

NASDAQ PAYX opened at $111.08 on Thursday. The firm has a market cap of $39.98 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. Paychex, Inc. has a 1-year low of $110.16 and a 1-year high of $161.24. 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 has a 50-day moving average of $125.51 and a 200-day moving average of $139.55.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, September 30th. The business services provider reported $1.22 EPS for the quarter, topping the consensus estimate 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 net margin of 27.85% and a return on equity of 45.17%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current 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 given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, November 7th. Paychex’s dividend payout ratio (DPR) is currently 97.08%.

Analysts Set New Price Targets

A number of analysts recently commented on PAYX shares. TD Cowen dropped their price target on Paychex from $140.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company raised shares of Paychex to a “strong sell” rating in a report on Wednesday, October 22nd. UBS Group decreased their price objective on Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, October 2nd. 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. Finally, Stephens upgraded Paychex to a “hold” rating in a research note on Tuesday, October 7th. Thirteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex currently has a consensus rating of “Reduce” and an average target price of $139.87.

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.