DAVENPORT & Co LLC Sells 10,361 Shares of Paychex, Inc. $PAYX

Key Points

• DAVENPORT & Co LLC reduced its holdings in Paychex, Inc. by 31%, selling 10,361 shares, leaving them with 23,082 shares valued at approximately $3.36 million.
• CEO John B. Gibson sold 12,370 shares for roughly $1.76 million, representing a decrease of 13.14% in his ownership of the company.
• Recent earnings reports showed Paychex surpassing EPS estimates, with a year-over-year revenue increase of 16.8%, setting FY 2026 earnings guidance between 5.428 and 5.528 EPS.

DAVENPORT & Co LLC lessened its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 31.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,082 shares of the business services provider's stock after selling 10,361 shares during the period. DAVENPORT & Co LLC's holdings in Paychex were worth $3,358,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of Paychex during the first quarter worth $34,000. Quarry LP bought a new stake in shares of Paychex during the first quarter worth $34,000. Alpine Bank Wealth Management bought a new stake in shares of Paychex during the first quarter worth $34,000. Tsfg LLC grew its holdings 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 purchasing an additional 126 shares during the last quarter. Finally, Nova Wealth Management Inc. bought a new stake in shares of Paychex during the first quarter worth $38,000. Institutional investors own 83.47% of the company's stock.

Insiders Place Their Bets

In other Paychex news, CEO John B. Gibson sold 12,370 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total value of $1,755,550.40. Following the transaction, the chief executive officer owned 81,755 shares of the company's stock, valued at approximately $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Paychex Trading Down 0.3%

NASDAQ:PAYX opened at $126.59 on Thursday. Paychex, Inc. has a 1-year low of $119.02 and a 1-year high of $161.24. The business's 50-day moving average price is $134.43 and its two-hundred day moving average price is $143.99. 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 $45.56 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.90 and a beta of 0.92.

Paychex (NASDAQ:PAYX - Get Free Report) last released its earnings results on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Paychex had a return on equity of 45.17% and a net margin of 27.85%.The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company's quarterly revenue was up 16.8% on a year-over-year basis. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PAYX has been the topic of several research analyst reports. Royal Bank Of Canada set a $165.00 target price on Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their price target on Paychex from $153.00 to $140.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. Wolfe Research decreased their price target on Paychex from $145.00 to $140.00 and set an "underperform" rating on the stock in a report on Friday, September 26th. UBS Group decreased their price target on Paychex from $140.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, October 2nd. Finally, Citigroup decreased their price target on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $141.29.

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.

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