Y Intercept Hong Kong Ltd Buys New Position in Paychex, Inc. $PAYX

Y Intercept Hong Kong Ltd bought a new stake in Paychex, Inc. (NASDAQ:PAYX) in the second quarter, HoldingsChannel reports. The fund bought 43,885 shares of the business services provider’s stock, valued at approximately $6,384,000.

Other large investors have also recently made changes to their positions in the company. Martin Capital Partners LLC boosted its position in shares of Paychex by 166.9% in the 2nd quarter. Martin Capital Partners LLC now owns 6,340 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 3,965 shares during the period. MWA Asset Management boosted its position in shares of Paychex by 6.5% in the 1st quarter. MWA Asset Management now owns 4,269 shares of the business services provider’s stock valued at $659,000 after purchasing an additional 262 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Paychex in the 1st quarter valued at about $832,000. Two Point Capital Management Inc. acquired a new stake in Paychex during the 2nd quarter worth approximately $8,761,000. Finally, SCS Capital Management LLC acquired a new stake in Paychex during the 1st quarter worth approximately $481,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PAYX. Morgan Stanley increased their price objective on Paychex from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Argus decreased their price objective on Paychex from $170.00 to $150.00 in a research report on Thursday, October 2nd. JPMorgan Chase & Co. decreased 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. Stephens raised Paychex to a “hold” rating in a research report on Tuesday, October 7th. Finally, UBS Group decreased their price objective on Paychex from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $139.87.

Paychex Stock Performance

Shares of PAYX stock opened at $125.01 on Tuesday. The company has a market cap of $44.99 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The stock has a 50 day simple moving average of $131.11 and a 200-day simple moving average of $142.04. Paychex, Inc. has a 12-month low of $119.02 and a 12-month 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.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion during 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 revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.08 per share. 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 is 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.