Cassaday & Co Wealth Management LLC Makes New Investment in Paychex, Inc. $PAYX

Cassaday & Co Wealth Management LLC bought a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,395 shares of the business services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Summit Wealth Partners LLC lifted its stake 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 worth $467,000 after purchasing an additional 70 shares during the last quarter. LGT Group Foundation lifted its stake in Paychex by 2.8% during the first quarter. LGT Group Foundation now owns 2,528 shares of the business services provider’s stock worth $390,000 after purchasing an additional 70 shares during the last quarter. Brighton Jones LLC lifted its stake in Paychex by 1.0% during the second quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock worth $1,012,000 after purchasing an additional 71 shares during the last quarter. King Wealth Management Group lifted its stake in Paychex by 4.7% during the first quarter. King Wealth Management Group now owns 1,669 shares of the business services provider’s stock worth $257,000 after purchasing an additional 75 shares during the last quarter. Finally, Sunflower Bank N.A. lifted its stake in Paychex by 3.4% during the second quarter. Sunflower Bank N.A. now owns 2,305 shares of the business services provider’s stock worth $335,000 after purchasing an additional 75 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group set a $130.00 target price on Paychex in a research note on Tuesday, September 30th. Stephens upgraded Paychex to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings upgraded Paychex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. BMO Capital Markets dropped their price target on Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Finally, TD Cowen dropped their price target on Paychex from $140.00 to $126.00 and set a “hold” rating for the company in a research note on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $139.87.

Paychex Stock Performance

NASDAQ PAYX opened at $115.14 on Wednesday. The company has a market capitalization of $41.44 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 2.68 and a beta of 0.92. Paychex, Inc. has a twelve month low of $113.15 and a twelve month high of $161.24. The stock has a fifty day simple moving average of $128.56 and a 200 day simple moving average of $140.81. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Tuesday, September 30th. The business services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Paychex had a return on equity of 45.17% and a net margin of 27.85%.Paychex’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. Sell-side analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, November 7th. Paychex’s dividend payout ratio is presently 97.08%.

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.