SVB Wealth LLC Invests $679,000 in Paychex, Inc. $PAYX

SVB Wealth LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 4,670 shares of the business services provider’s stock, valued at approximately $679,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Paychex during the second quarter valued at approximately $302,244,000. Select Equity Group L.P. raised its stake in shares of Paychex by 99.0% in the 1st quarter. Select Equity Group L.P. now owns 3,494,312 shares of the business services provider’s stock valued at $539,102,000 after acquiring an additional 1,738,372 shares during the period. Nuveen LLC acquired a new position in shares of Paychex during the 1st quarter valued at $134,192,000. Marshall Wace LLP boosted its position in Paychex by 179.5% during the 2nd quarter. Marshall Wace LLP now owns 1,078,328 shares of the business services provider’s stock worth $156,854,000 after purchasing an additional 692,533 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in Paychex by 117.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,217,092 shares of the business services provider’s stock valued at $187,512,000 after purchasing an additional 657,871 shares in the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PAYX shares. JPMorgan Chase & Co. lowered their target price on Paychex from $153.00 to $140.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Wolfe Research reduced their target price on shares of Paychex from $145.00 to $140.00 and set an “underperform” rating on the stock in a research report on Friday, September 26th. BMO Capital Markets decreased their target price on shares of Paychex from $140.00 to $121.00 and set a “market perform” rating for the company in a research note on Tuesday. Royal Bank Of Canada dropped their price target on shares of Paychex from $150.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Friday, December 5th. Finally, TD Cowen decreased their price objective on shares of Paychex from $126.00 to $114.00 and set a “hold” rating for the company in a research report on Monday, December 1st. Fourteen research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paychex presently has a consensus rating of “Reduce” and a consensus price target of $133.53.

Paychex Stock Up 0.3%

Shares of NASDAQ:PAYX opened at $112.74 on Wednesday. The firm has a market cap of $40.57 billion, a PE ratio of 25.33 and a beta of 0.91. The company has a fifty day simple moving average of $117.76 and a 200 day simple moving average of $134.05. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.15. Paychex, Inc. has a 12-month low of $108.00 and a 12-month high of $161.24.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. On average, equities research analysts anticipate that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 7th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, November 7th. 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.