2,232 Shares in Paychex, Inc. $PAYX Acquired by Swmg LLC

Key Points

• Swmg LLC has acquired a new stake in Paychex, Inc., purchasing 2,232 shares valued at approximately $326,000.
• Multiple hedge funds have modified their holdings in Paychex, with 83.47% of the stock now owned by institutional investors.
• Paychex recently announced a quarterly dividend of $1.08 per share, resulting in an annualized yield of 3.4%.

Swmg LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,232 shares of the business services provider's stock, valued at approximately $326,000.

A number of other hedge funds have also modified their holdings of PAYX. Alpine Bank Wealth Management purchased a new position in shares of Paychex during the 1st quarter worth $34,000. MorganRosel Wealth Management LLC purchased a new position in shares of Paychex during the 1st quarter worth $34,000. Quarry LP purchased a new position in shares of Paychex during the 1st quarter worth $34,000. Tsfg LLC grew its holdings in shares of Paychex by 122.3% during the 1st 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. purchased a new position in shares of Paychex during the 1st quarter worth $38,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PAYX. Argus lowered their price target on Paychex from $170.00 to $150.00 in a report on Thursday, October 2nd. Robert W. Baird lowered their price target on Paychex from $153.00 to $148.00 and set a "neutral" rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada set a $165.00 target price on Paychex and gave the stock a "sector perform" rating in a research note on Tuesday, June 24th. Morgan Stanley lowered their target price on Paychex from $148.00 to $132.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Finally, Wolfe Research cut their price target on shares of Paychex from $145.00 to $140.00 and set an "underperform" rating on the stock in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of "Reduce" and a consensus price target of $141.29.

Paychex Stock Performance

NASDAQ:PAYX opened at $126.56 on Friday. The company has a fifty day simple moving average of $132.52 and a two-hundred day simple moving average of $142.78. The company has a market cap of $45.55 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 2.89 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. Paychex, Inc. has a 52 week low of $119.02 and a 52 week high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.02. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.Paychex's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.32 dividend on an annualized basis and a yield of 3.4%. Paychex's dividend payout ratio (DPR) is currently 97.08%.

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.

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.