Paychex, Inc. $PAYX Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Paychex, Inc. by 70.4% in the second quarter, owning 9,774 shares valued at $1,422,000 after selling 23,213 shares.
• Paychex recently reported $1.22 earnings per share for the quarter, exceeding the consensus estimate of $1.20, with a revenue of $1.54 billion reflecting a 16.8% year-over-year growth.
• The company declared a quarterly dividend of $1.08 per share, scheduled for payment on November 26th, representing an annualized yield of 3.4%.

Atria Wealth Solutions Inc. cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 70.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,774 shares of the business services provider's stock after selling 23,213 shares during the period. Atria Wealth Solutions Inc.'s holdings in Paychex were worth $1,422,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PAYX. Summit Wealth Partners LLC raised its holdings in Paychex by 2.4% during the first quarter. Summit Wealth Partners LLC now owns 3,027 shares of the business services provider's stock valued at $467,000 after buying an additional 70 shares in the last quarter. LGT Group Foundation grew its position in shares of Paychex by 2.8% in the first quarter. LGT Group Foundation now owns 2,528 shares of the business services provider's stock valued at $390,000 after purchasing an additional 70 shares during the last quarter. Golden State Equity Partners grew its position in shares of Paychex by 0.9% in the first quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider's stock valued at $1,176,000 after purchasing an additional 71 shares during the last quarter. Palumbo Wealth Management LLC grew its position in shares of Paychex by 2.4% in the first quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider's stock valued at $492,000 after purchasing an additional 74 shares during the last quarter. Finally, King Wealth Management Group grew its position in shares of Paychex by 4.7% in the first quarter. King Wealth Management Group now owns 1,669 shares of the business services provider's stock valued at $257,000 after purchasing an additional 75 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PAYX. BMO Capital Markets lowered their price target on Paychex from $143.00 to $140.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 1st. Citigroup lowered their price target on Paychex from $158.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Royal Bank Of Canada set a $165.00 price target on Paychex and gave the company a "sector perform" rating in a research report on Tuesday, June 24th. Robert W. Baird lowered their price target on Paychex from $153.00 to $148.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 1st. Finally, Stephens upgraded Paychex to a "hold" rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $141.29.

Paychex Trading Down 0.8%

Shares of PAYX opened at $126.49 on Friday. Paychex, Inc. has a 12-month low of $119.02 and a 12-month high of $161.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.91 and a beta of 0.92. The stock's 50-day moving average price is $132.81 and its 200 day moving average price is $143.06.

Paychex (NASDAQ:PAYX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company posted $1.16 EPS. The company's revenue was up 16.8% compared to the same quarter last year. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently disclosed 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. This represents a $4.32 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, November 7th. Paychex's dividend payout ratio is currently 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.

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