Paychex, Inc. $PAYX Holdings Cut by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 22.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,079 shares of the business services provider’s stock after selling 32,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Paychex were worth $14,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYX. Brighton Jones LLC boosted its position in Paychex by 1.0% during the 2nd quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock valued at $1,012,000 after purchasing an additional 71 shares during the period. Sunflower Bank N.A. lifted its stake in Paychex by 3.4% in the second quarter. Sunflower Bank N.A. now owns 2,305 shares of the business services provider’s stock valued at $335,000 after buying an additional 75 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Paychex by 0.7% during the second quarter. Empirical Finance LLC now owns 11,267 shares of the business services provider’s stock valued at $1,639,000 after acquiring an additional 75 shares during the period. Quantum Portfolio Management LLC grew its position in shares of Paychex by 3.1% during the second quarter. Quantum Portfolio Management LLC now owns 2,464 shares of the business services provider’s stock worth $358,000 after acquiring an additional 75 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Paychex by 40.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock worth $38,000 after acquiring an additional 76 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYX has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of Paychex from $133.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. Wells Fargo & Company reduced their price objective on Paychex from $128.00 to $116.00 and set an “underweight” rating for the company in a research report on Tuesday, December 9th. BMO Capital Markets lowered their target price on Paychex from $140.00 to $121.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 9th. Stifel Nicolaus cut their target price on Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Finally, Stephens decreased their price target on Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $125.67.

Paychex Stock Up 2.3%

Shares of PAYX stock opened at $114.25 on Friday. Paychex, Inc. has a 1 year low of $107.80 and a 1 year high of $161.24. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.27 and a current ratio of 1.27. The business’s fifty day moving average is $112.66 and its 200-day moving average is $127.92. The stock has a market cap of $41.01 billion, a PE ratio of 25.91 and a beta of 0.91.

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

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.