Nissay Asset Management Corp Japan ADV Has $13.19 Million Position in Paychex, Inc. $PAYX

Key Points

• Nissay Asset Management Corp Japan ADV has increased its stock holdings in Paychex, Inc. by 10.3%, acquiring an additional 7,984 shares valued at approximately $13.19 million.
• Paychex recently declared a quarterly dividend of $1.08 per share, maintaining an annualized yield of 3.2% and a dividend payout ratio of 94.53%.
• Analysts have set a consensus price target of $149.70 for Paychex, with 10 analysts recommending a "Hold" rating and one issuing a "Sell" rating on the stock.

Nissay Asset Management Corp Japan ADV grew its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 85,518 shares of the business services provider's stock after acquiring an additional 7,984 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Paychex were worth $13,194,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYX. Robeco Institutional Asset Management B.V. lifted its position in shares of Paychex by 118.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 136,876 shares of the business services provider's stock worth $21,117,000 after buying an additional 74,245 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Paychex by 32.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 119,291 shares of the business services provider's stock valued at $18,404,000 after acquiring an additional 29,320 shares during the last quarter. MWA Asset Management boosted its stake in shares of Paychex by 6.5% during the 1st quarter. MWA Asset Management now owns 4,269 shares of the business services provider's stock worth $659,000 after purchasing an additional 262 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Paychex by 15.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,419 shares of the business services provider's stock worth $990,000 after purchasing an additional 843 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Paychex by 7.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,607 shares of the business services provider's stock worth $1,174,000 after purchasing an additional 502 shares during the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Performance

Shares of NASDAQ PAYX traded up $1.75 during midday trading on Thursday, reaching $134.82. 474,266 shares of the company traded hands, compared to its average volume of 2,128,918. Paychex, Inc. has a 52 week low of $131.83 and a 52 week high of $161.24. The stock has a 50-day moving average price of $140.91 and a 200 day moving average price of $146.76. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 3.08 and a beta of 0.91.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, meeting analysts' consensus estimates of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business earned $1.12 earnings per share. Paychex has set its FY 2026 guidance at EPS. Sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, July 21st were given a $1.08 dividend. The ex-dividend date was Monday, July 21st. This represents a $4.32 annualized dividend and a yield of 3.2%. Paychex's payout ratio is 94.53%.

Insider Activity

In other Paychex news, Chairman Martin Mucci sold 97,526 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the completion of the sale, the chairman directly owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. This represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John B. Gibson sold 12,370 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 81,755 shares of the company's stock, valued at $11,602,669.60. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Friday, June 27th. Jefferies Financial Group set a $140.00 price objective on shares of Paychex and gave the company a "hold" rating in a research report on Thursday, June 26th. BMO Capital Markets started coverage on shares of Paychex in a research report on Thursday, July 10th. They set a "market perform" rating and a $160.00 price target for the company. Citigroup decreased their price target on shares of Paychex from $158.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Finally, UBS Group decreased their price target on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, June 26th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $149.70.

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.