6,099 Shares in Paychex, Inc. $PAYX Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 6,099 shares of the business services provider’s stock, valued at approximately $887,000.

A number of other institutional investors have also recently made changes to their positions in PAYX. Vanguard Group Inc. boosted its position in Paychex by 1.3% in the second quarter. Vanguard Group Inc. now owns 32,215,957 shares of the business services provider’s stock worth $4,686,133,000 after purchasing an additional 408,114 shares during the last quarter. State Street Corp lifted its stake in shares of Paychex by 2.6% during the 2nd quarter. State Street Corp now owns 14,066,067 shares of the business services provider’s stock valued at $2,046,050,000 after buying an additional 355,294 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Paychex by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 11,033,312 shares of the business services provider’s stock worth $1,604,906,000 after acquiring an additional 251,139 shares during the period. Geode Capital Management LLC boosted its stake in Paychex by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 10,183,871 shares of the business services provider’s stock worth $1,481,053,000 after purchasing an additional 274,947 shares during the period. Finally, Northern Trust Corp lifted its stake in Paychex by 3.8% in the 1st quarter. Northern Trust Corp now owns 4,989,182 shares of the business services provider’s stock worth $769,731,000 after purchasing an additional 181,628 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group lowered their price objective on Paychex from $140.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, October 2nd. TD Cowen decreased their price target on shares of Paychex from $126.00 to $114.00 and set a “hold” rating for the company in a research note on Monday, December 1st. Stifel Nicolaus dropped their target price on shares of Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Royal Bank Of Canada reduced their price target on Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a research report on Friday, December 5th. Finally, Cowen reissued a “hold” rating on shares of Paychex in a research report on Monday, December 1st. Fourteen equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $131.87.

Paychex Stock Performance

Shares of PAYX opened at $115.38 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $41.52 billion, a P/E ratio of 25.93 and a beta of 0.91. The company’s fifty day moving average is $117.00 and its two-hundred day moving average is $132.84. Paychex, Inc. has a 1 year low of $108.00 and a 1 year high of $161.24.

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

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, November 7th. Paychex’s dividend payout ratio is presently 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.