Paychex, Inc. $PAYX Shares Bought by First Long Island Investors LLC

First Long Island Investors LLC grew its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 23.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 99,607 shares of the business services provider’s stock after buying an additional 19,185 shares during the quarter. First Long Island Investors LLC’s holdings in Paychex were worth $12,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PAYX. Vanguard Group Inc. increased its position in Paychex by 17.2% during the third quarter. Vanguard Group Inc. now owns 37,765,468 shares of the business services provider’s stock worth $4,787,151,000 after buying an additional 5,549,511 shares during the period. Norges Bank acquired a new position in shares of Paychex in the 2nd quarter valued at $302,244,000. Marshall Wace LLP raised its position in Paychex by 179.5% in the 2nd quarter. Marshall Wace LLP now owns 1,078,328 shares of the business services provider’s stock valued at $156,854,000 after purchasing an additional 692,533 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Paychex by 29.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,542,901 shares of the business services provider’s stock worth $369,901,000 after purchasing an additional 574,337 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Paychex by 209.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 838,679 shares of the business services provider’s stock worth $106,311,000 after purchasing an additional 567,352 shares during the period. 83.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paychex in a report on Monday, December 29th. Cantor Fitzgerald upgraded Paychex to a “strong sell” rating in a research report on Tuesday, January 27th. TD Cowen reaffirmed a “hold” rating on shares of Paychex in a report on Monday, December 1st. JPMorgan Chase & Co. lowered their price objective on Paychex from $140.00 to $125.00 and set an “underweight” rating on the stock in a report on Monday, December 22nd. Finally, Morgan Stanley lowered their price target on shares of Paychex from $133.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $123.94.

Paychex Price Performance

Shares of NASDAQ:PAYX opened at $93.65 on Monday. The company has a market cap of $33.62 billion, a P/E ratio of 21.24 and a beta of 0.91. The business has a fifty day simple moving average of $104.01 and a 200-day simple moving average of $116.77. Paychex, Inc. has a 52 week low of $86.89 and a 52 week high of $161.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.17.

Paychex (NASDAQ:PAYX) last issued its quarterly 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 last year, the company earned $1.14 EPS. The firm’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. Equities research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex declared that its Board of Directors has authorized a stock repurchase program on Friday, January 16th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Paychex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, January 28th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $4.32 annualized dividend and a yield of 4.6%. Paychex’s dividend payout ratio is 97.96%.

About Paychex

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.