TD Asset Management Inc Sells 302,415 Shares of Paychex, Inc. $PAYX

TD Asset Management Inc lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 15.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,631,922 shares of the business services provider’s stock after selling 302,415 shares during the quarter. TD Asset Management Inc owned about 0.45% of Paychex worth $237,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. Alpine Bank Wealth Management bought a new position in Paychex during the first quarter worth about $34,000. MorganRosel Wealth Management LLC bought a new position in Paychex during the first quarter worth about $34,000. Quarry LP bought a new position in Paychex during the first quarter worth about $34,000. Tsfg LLC boosted its position in 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 purchasing an additional 126 shares during the period. Finally, Nova Wealth Management Inc. bought a new position in Paychex during the first quarter worth about $38,000. Institutional investors own 83.47% of the company’s stock.

Paychex Trading Up 1.5%

Shares of Paychex stock opened at $127.42 on Tuesday. Paychex, Inc. has a 1 year low of $119.02 and a 1 year high of $161.24. The firm has a market cap of $45.86 billion, a PE ratio of 28.63, a PEG ratio of 2.87 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day simple moving average of $133.54 and a two-hundred day simple moving average of $143.46.

Paychex (NASDAQ:PAYX) last posted its quarterly 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 firm 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 business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal 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 paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 annualized dividend and a dividend yield of 3.4%. Paychex’s dividend payout ratio (DPR) is 97.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on PAYX. Stephens upgraded shares of Paychex to a “hold” rating in a research report on Tuesday, October 7th. BMO Capital Markets cut their price objective on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. Robert W. Baird cut their price objective on shares of Paychex from $153.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. 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. Finally, Stifel Nicolaus cut their price objective on shares of Paychex from $142.00 to $137.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex currently has an average rating of “Reduce” and an average price target of $141.29.

Insider Activity at Paychex

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the completion of the sale, the chief executive officer owned 81,755 shares of the company’s stock, valued at $11,602,669.60. This represents a 13.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.

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.