8,732 Shares in Paychex, Inc. $PAYX Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,732 shares of the business services provider’s stock, valued at approximately $1,107,000.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC lifted its position in Paychex by 26.3% in the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after buying an additional 1,190 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Paychex by 3.0% in the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock valued at $566,000 after acquiring an additional 117 shares during the period. Woodline Partners LP purchased a new stake in shares of Paychex in the 1st quarter valued at approximately $3,333,000. CWM LLC lifted its holdings in shares of Paychex by 7.2% in the 2nd quarter. CWM LLC now owns 19,788 shares of the business services provider’s stock worth $2,878,000 after acquiring an additional 1,322 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Paychex by 7.2% during the 2nd quarter. Ritholtz Wealth Management now owns 23,878 shares of the business services provider’s stock worth $3,473,000 after purchasing an additional 1,604 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PAYX. JPMorgan Chase & Co. cut their target price on Paychex from $140.00 to $125.00 and set an “underweight” rating on the stock in a research report on Monday, December 22nd. Wells Fargo & Company dropped their price objective on Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research note on Tuesday, December 9th. Royal Bank Of Canada decreased their target price on Paychex from $150.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Friday, December 5th. Citigroup lowered their target price on Paychex from $139.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Finally, Wolfe Research cut their price target on shares of Paychex from $130.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, December 10th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Paychex presently has a consensus rating of “Reduce” and an average price target of $123.94.

Paychex Trading Down 2.5%

NASDAQ:PAYX opened at $92.47 on Friday. The firm has a market cap of $33.19 billion, a PE ratio of 20.97 and a beta of 0.90. The stock has a fifty day moving average price of $108.79 and a 200 day moving average price of $120.84. Paychex, Inc. has a 12-month low of $91.70 and a 12-month high of $161.24. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.17.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Friday, December 19th. The business services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. Paychex had a return on equity of 46.38% and a net margin of 26.45%.Paychex’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. Paychex has set its FY 2026 guidance at 5.480-5.530 EPS. Sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex announced that its Board of Directors has approved a share buyback plan on Friday, January 16th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, January 28th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $4.32 annualized dividend and a yield of 4.7%. Paychex’s dividend payout ratio (DPR) is 97.96%.

Paychex Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.