Envestnet Portfolio Solutions Inc. Decreases Stock Position in Paychex, Inc. $PAYX

Envestnet Portfolio Solutions Inc. trimmed its position in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,374 shares of the business services provider's stock after selling 13,454 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Paychex were worth $9,946,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Paychex by 118.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock worth $21,117,000 after purchasing an additional 74,245 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Paychex by 32.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock worth $18,404,000 after purchasing an additional 29,320 shares during the last quarter. Martin Capital Partners LLC raised its stake in shares of Paychex by 166.9% in the second quarter. Martin Capital Partners LLC now owns 6,340 shares of the business services provider's stock worth $922,000 after purchasing an additional 3,965 shares during the last quarter. MWA Asset Management grew its holdings in Paychex by 6.5% during the first quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock worth $659,000 after acquiring an additional 262 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Paychex during the first quarter worth about $832,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts recently commented on PAYX shares. Robert W. Baird dropped their target price on Paychex from $153.00 to $148.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. dropped their target price on Paychex from $153.00 to $140.00 and set an "underweight" rating on the stock in a report on Wednesday, October 1st. Weiss Ratings raised Paychex from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. 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. Finally, Argus dropped their target price on Paychex from $170.00 to $150.00 in a report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Paychex has an average rating of "Reduce" and a consensus price target of $141.29.

Paychex Stock Performance

Shares of NASDAQ:PAYX opened at $127.42 on Tuesday. 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 business's 50 day moving average price is $133.54 and its 200-day moving average price is $143.46. The firm has a market capitalization of $45.86 billion, a PE ratio of 28.63, a P/E/G ratio of 2.87 and a beta of 0.92. Paychex, Inc. has a 1 year low of $119.02 and a 1 year high of $161.24.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly 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 firm 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%.The business's revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th will be paid 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 dividend yield of 3.4%. Paychex's payout ratio is currently 97.08%.

About Paychex

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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