Paychex (PAYX)

• Market cap: $50.2B
• 1 day: 1.26%
• 5 days: -1.73%
• 1 month: -1.61%
• 3 months: 4.71%
• 6 months: 11.56%
• Year to date: 18.38%
• 1 year: 9.13%
• 5 years: 63.15%
• 10 years: 196.70%
• Sector: Industrials
• Industry: Engineering, Accounting, Research, Management

About: Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, founded in 1971, services over 745,000 clients and pays 1 in 12 US private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.

Employees: 16,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

18% more first-time investments, than exits

New positions opened: 136 | Existing positions closed: 115

12% more capital invested

Capital invested by funds: $33B [Q2] → $36.9B (+$3.86B) [Q3]

7% more funds holding in top 10

Funds holding in top 10: 15 [Q2] → 16 (+1) [Q3]

1% more funds holding

Funds holding: 1,492 [Q2] → 1,513 (+21) [Q3]

0.76% less ownership

Funds ownership: 77.35% [Q2] → 76.59% (-0.76%) [Q3]

4% less repeat investments, than reductions

Existing positions increased: 546 | Existing positions reduced: 567

16% less call options, than puts

Call options by funds: $352M | Put options by funds: $417M

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $130 7% downside
• Avg. target: $138 1% downside
• High target: $148 6% upside

9 analyst ratings

• positive: 0 0%
• neutral: 8 89%
• negative: 1 11%

RBC Capital Ashish Sabadra 65% 1-year accuracy 34 / 52 met price target	6% upside $148	Sector Perform Reiterated	20 Dec 2024
JP Morgan Tien-Tsin Huang 70% 1-year accuracy 72 / 103 met price target	0% downside $139	Underweight Maintained	19 Nov 2024
TD Cowen Bryan Bergin 93% 1-year accuracy 26 / 28 met price target	6% downside $131	Hold Maintained	2 Oct 2024
Stifel David Grossman 48% 1-year accuracy 13 / 27 met price target	1% upside $141	Hold Maintained	2 Oct 2024
Jefferies Samad Samana 79% 1-year accuracy 11 / 14 met price target	7% downside $130	Hold Maintained	2 Oct 2024