Onyx Bridge Wealth Group LLC Buys New Stake in Paychex, Inc. $PAYX

Onyx Bridge Wealth Group LLC purchased a new stake in Paychex, Inc. (NASDAQ:PAYX) during the third quarter, HoldingsChannel.com reports. The fund purchased 8,732 shares of the business services provider’s stock, valued at approximately $1,107,000.

A number of other institutional investors also recently bought and sold shares of PAYX. Brighton Jones LLC increased its holdings in shares of Paychex by 1.0% in the 2nd quarter. Brighton Jones LLC now owns 6,954 shares of the business services provider’s stock valued at $1,012,000 after acquiring an additional 71 shares during the last quarter. Empirical Finance LLC boosted its holdings in Paychex by 0.7% in the second quarter. Empirical Finance LLC now owns 11,267 shares of the business services provider’s stock valued at $1,639,000 after purchasing an additional 75 shares in the last quarter. Quantum Portfolio Management LLC boosted its holdings in Paychex by 3.1% in the second quarter. Quantum Portfolio Management LLC now owns 2,464 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 75 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Paychex by 40.6% in the second quarter. GPS Wealth Strategies Group LLC now owns 263 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Finally, Mission Wealth Management LP raised its holdings in Paychex by 1.9% during the second quarter. Mission Wealth Management LP now owns 4,244 shares of the business services provider’s stock worth $617,000 after purchasing an additional 78 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stephens reduced their price objective on shares of Paychex from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, December 22nd. Cantor Fitzgerald upgraded shares of Paychex to a “strong sell” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reduced their price target on shares of Paychex from $150.00 to $125.00 and set a “sector perform” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company dropped their price objective on Paychex from $128.00 to $116.00 and set an “underweight” rating on the stock in a report on Tuesday, December 9th. Finally, Wolfe Research cut their target price on Paychex from $130.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $123.94.

Paychex Stock Down 2.5%

Shares of NASDAQ:PAYX opened at $92.47 on Friday. The stock has a market cap of $33.19 billion, a P/E ratio of 20.97 and a beta of 0.90. The firm has a fifty day moving average price of $108.79 and a 200 day moving average price of $120.84. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.27 and a quick ratio of 1.27. Paychex, Inc. has a 1-year low of $91.70 and a 1-year high of $161.24.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Friday, December 19th. The business services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Paychex had a net margin of 26.45% and a return on equity of 46.38%. The company 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 business posted $1.14 earnings per share. Paychex’s quarterly 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 predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, January 28th will be paid a dividend of $1.08 per share. 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 is currently 97.96%.

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

Paychex Company 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.