Paychex, Inc.
At today's price, Paychex, Inc. (PAYX) is priced for +3.7% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Paychex runs payroll, HR, and benefits for small and mid-sized businesses at a 37% operating margin and a 41% return on equity, the economics of an entrenched service most clients renew rather than re-shop. • The dividend is a defining feature: at roughly 4.8%, the yield sits well above peers, and the company funds it from cash flow while carrying manageable debt taken on for the Paycor acquisition. • The near-term worry is a cautious fiscal 2027 outlook, management guided adjusted earnings gr
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1,462 institutional managers reported holding PAYX in 13F filings for the quarter ended 2026-03-31. Together they hold about 79% of the company; the top 10 hold 43%. 119 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 20.6M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
PAYX's share count is about flat over the past five years ($635.30M of repurchases, offset by issuance). It pays a dividend, and has paid one every year in our records (18 and counting), raised 15 years straight; the current rate is $4.02 a share annually. Cash returned over the past three years: $3.93B in dividends and $635.30M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at PAYX over the trailing three years: 2023: 4 buys totaling $46k; 2024: 1 buy totaling $6k; 2026: 2 buys totaling $197k. 24 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PAYX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2022-04-01 | +3.0% | -9.4% |
| 2022-09-30 | +0.1% | +12.3% |
| 2022-12-23 | +1.1% | -4.3% |
| 2023-03-31 | +4.2% | -3.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PAYX's latest 8-K filings: 2026-06-24 (items 2.02, 9.01); 2026-03-25 (items 2.02, 9.01); 2026-01-26 (items 1.01, 1.02, 2.03); 2026-01-20 (items 5.02, 8.01, 9.01); 2025-12-19 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.