Mackenzie Financial Corp Sells 41,627 Shares of Paychex, Inc. $PAYX

Mackenzie Financial Corp lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,531 shares of the business services provider’s stock after selling 41,627 shares during the period. Mackenzie Financial Corp’s holdings in Paychex were worth $17,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PAYX. Martin Capital Partners LLC lifted its position in shares of Paychex by 166.9% during the second quarter. Martin Capital Partners LLC now owns 6,340 shares of the business services provider’s stock worth $922,000 after acquiring an additional 3,965 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Paychex by 8.6% in the second quarter. Arkadios Wealth Advisors now owns 53,974 shares of the business services provider’s stock valued at $7,851,000 after purchasing an additional 4,254 shares in the last quarter. MWA Asset Management raised its stake in shares of Paychex by 6.5% during the 1st quarter. MWA Asset Management now owns 4,269 shares of the business services provider’s stock valued at $659,000 after purchasing an additional 262 shares during the period. Two Point Capital Management Inc. purchased a new stake in Paychex during the 2nd quarter worth about $8,761,000. Finally, Midwest Trust Co purchased a new stake in Paychex during the 2nd quarter worth about $5,202,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAYX shares. Robert W. Baird decreased their price target on Paychex from $153.00 to $148.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Argus reduced their price objective on shares of Paychex from $170.00 to $150.00 in a research note on Thursday, October 2nd. Stifel Nicolaus lowered their target price on shares of Paychex from $142.00 to $137.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. BMO Capital Markets cut their price target on shares of Paychex from $143.00 to $140.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Finally, Stephens upgraded shares of Paychex to a “hold” rating in a research report on Tuesday, October 7th. Fourteen equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $139.07.

Paychex Price Performance

PAYX opened at $110.54 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. Paychex, Inc. has a 1 year low of $108.00 and a 1 year high of $161.24. The stock’s 50 day simple moving average is $119.65 and its 200 day simple moving average is $135.93. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.68 and a beta of 0.93.

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, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Paychex had a net margin of 27.85% and a return on equity of 45.17%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Paychex has set its FY 2026 guidance at 5.428-5.528 EPS. As a group, analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 7th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $4.32 dividend on an annualized basis and a yield of 3.9%. Paychex’s dividend payout ratio is presently 97.08%.

Paychex 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.