Conning Inc. Has $30.94 Million Holdings in Paychex, Inc. $PAYX

Conning Inc. raised its holdings in Paychex, Inc. (NASDAQ:PAYX) by 13.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 244,096 shares of the business services provider’s stock after purchasing an additional 29,023 shares during the period. Conning Inc.’s holdings in Paychex were worth $30,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PAYX. Brighton Jones LLC boosted its holdings in Paychex by 26.3% during the fourth quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider’s stock valued at $801,000 after purchasing an additional 1,190 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Paychex by 3.0% during the 4th quarter. Bison Wealth LLC now owns 4,035 shares of the business services provider’s stock worth $566,000 after buying an additional 117 shares during the period. Woodline Partners LP acquired a new stake in Paychex in the 1st quarter valued at $3,333,000. Everpar Advisors LLC bought a new stake in Paychex in the second quarter valued at $239,000. Finally, Czech National Bank grew its position in Paychex by 6.5% in the second quarter. Czech National Bank now owns 78,358 shares of the business services provider’s stock valued at $11,398,000 after acquiring an additional 4,755 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Price Performance

PAYX opened at $110.29 on Thursday. Paychex, Inc. has a one year low of $107.80 and a one year high of $161.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.27 and a quick ratio of 1.27. The company’s 50 day simple moving average is $112.32 and its 200-day simple moving average is $126.86. The stock has a market capitalization of $39.59 billion, a P/E ratio of 25.01 and a beta of 0.91.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data 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. Paychex had a net margin of 26.45% and a return on equity of 46.38%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Paychex’s revenue was up 18.3% on a year-over-year basis. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Argus reduced their target price on shares of Paychex from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, January 2nd. Stephens cut their price target on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, December 22nd. Stifel Nicolaus decreased their price objective on shares of Paychex from $137.00 to $126.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. TD Cowen dropped their price objective on shares of Paychex from $126.00 to $114.00 and set a “hold” rating for the company in a report on Monday, December 1st. Finally, BMO Capital Markets decreased their price target 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. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $125.67.

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.