Schmidt P J Investment Management Inc. Buys 128 Shares of Paychex, Inc. $PAYX

Schmidt P J Investment Management Inc. raised its stake in Paychex, Inc. (NASDAQ:PAYX) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,291 shares of the business services provider’s stock after acquiring an additional 128 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Paychex were worth $479,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PAYX. Select Equity Group L.P. raised its holdings in Paychex by 99.0% in 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 acquiring an additional 1,738,372 shares during the period. Nuveen LLC acquired a new position in shares of Paychex during the 1st quarter worth approximately $134,192,000. Charles Schwab Investment Management Inc. grew its position in shares of Paychex by 7.3% during the 1st 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 in the last quarter. Neuberger Berman Group LLC grew its position in shares of Paychex by 117.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock worth $187,512,000 after purchasing an additional 657,871 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Paychex by 25.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,844,949 shares of the business services provider’s stock worth $438,919,000 after purchasing an additional 581,410 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAYX shares. Citigroup started coverage on shares of Paychex in a research report on Thursday. They set a “neutral” rating and a $139.00 target price on the stock. Stephens upgraded shares of Paychex to a “hold” rating in a research report on Tuesday, October 7th. BMO Capital Markets decreased their target price on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. UBS Group decreased their target price on shares of Paychex from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Paychex from $153.00 to $140.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $139.87.

Paychex Stock Performance

NASDAQ PAYX opened at $124.60 on Monday. 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 firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.85 and a beta of 0.92. The firm’s 50 day simple moving average is $131.36 and its 200 day simple moving average is $142.19. Paychex, Inc. has a 1 year low of $119.02 and a 1 year high of $161.24.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.02. The business had revenue of $1.54 billion for 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%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 annualized dividend and a yield of 3.5%. Paychex’s dividend payout ratio is presently 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.