Sumitomo Mitsui Trust Group Inc. Has $129.83 Million Stock Position in Paychex, Inc. $PAYX

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 892,527 shares of the business services provider’s stock after purchasing an additional 7,121 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Paychex were worth $129,827,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAYX. MorganRosel Wealth Management LLC bought a new position in shares of Paychex during the first quarter worth about $34,000. Quarry LP bought a new stake in shares of Paychex in the 1st quarter valued at $34,000. Tsfg LLC increased 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 buying an additional 126 shares during the period. Nova Wealth Management Inc. bought a new position in Paychex during the first quarter worth $38,000. Finally, Bogart Wealth LLC lifted its holdings in Paychex by 32.5% in the second quarter. Bogart Wealth LLC now owns 379 shares of the business services provider’s stock valued at $55,000 after buying an additional 93 shares during the period. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.1%

Shares of Paychex stock opened at $124.60 on Friday. The stock has a market capitalization of $44.84 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Paychex, Inc. has a 52 week low of $119.02 and a 52 week high of $161.24. The stock has a 50 day moving average price of $131.36 and a two-hundred day moving average price of $142.22. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27.

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

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, November 7th. Paychex’s dividend payout ratio (DPR) is 97.08%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PAYX. Citigroup assumed coverage on Paychex in a report on Thursday. They set a “neutral” rating and a $139.00 price target for the company. Stifel Nicolaus decreased their target price on Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research note on Wednesday, October 1st. Morgan Stanley lifted their target price on Paychex from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Stephens raised Paychex to a “hold” rating in a research note on Tuesday, October 7th. Finally, UBS Group reduced 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. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $139.87.

Paychex Company 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.