Paychex shares slide as stock goes ex-dividend and filings flag potential insider supply

Paychex, Inc. (PAYX) is down 5.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The decline appears tied to a mix of technical and sentiment factors: PAYX is trading ex-dividend, and recent SEC filings highlighted potential share supply via a planned trust sale plus insider activity. With no fresh earnings release today, the move looks more flow-driven than fundamentals-driven.

Details:

PAYX’s next quarterly dividend is $1.19 per share, with an ex-dividend date of May 13, 2026 and payment scheduled for May 29, 2026, which can mechanically pressure the share price around the ex-date.

A Form 144 filed with the SEC disclosed a proposed sale of 163,930 shares by the B. Thomas Golisano Revocable Living Trust, with the filing showing May 4, 2026 as the broker/sale date.

Recent Form 4 activity also showed insider transactions (including an executive option exercise), which can amplify short-term “insider supply” concerns even when not indicative of fundamentals.

This could also be an extension of recent cautious sentiment toward payroll/HCM names, where valuation and growth expectations can drive outsized single-day moves.

Sources:

SEC EDGAR, Business Wire, Stock Analysis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PAYX Insider Trading Activity

$PAYX insiders have traded $PAYX stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $PAYX stock by insiders over the last 6 months:

JOSEPH DOODY purchased 1,000 shares for an estimated $98,760
TOM BONADIO purchased 1,000 shares for an estimated $98,498

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$PAYX Hedge Fund Activity

We have seen 673 institutional investors add shares of $PAYX stock to their portfolio, and 873 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

VANGUARD GROUP INC added 4,583,157 shares (+12.1%) to their portfolio in Q4 2025, for an estimated $514,138,552
FEDERATED HERMES, INC. added 2,352,423 shares (+4141.2%) to their portfolio in Q4 2025, for an estimated $263,894,812
WELLS FARGO & COMPANY/MN removed 2,322,222 shares (-26.4%) from their portfolio in Q4 2025, for an estimated $260,506,863
SELECT EQUITY GROUP, L.P. added 1,358,596 shares (+31.2%) to their portfolio in Q4 2025, for an estimated $152,407,299
BAHL & GAYNOR INC removed 1,205,622 shares (-71.2%) from their portfolio in Q1 2026, for an estimated $111,061,898
FIL LTD removed 1,097,366 shares (-98.1%) from their portfolio in Q4 2025, for an estimated $123,102,517
WORLDQUANT MILLENNIUM ADVISORS LLC removed 913,297 shares (-70.4%) from their portfolio in Q4 2025, for an estimated $102,453,657

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PAYX Congressional Stock Trading

Members of Congress have traded $PAYX stock 10 times in the past 6 months. Of those trades, 2 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $PAYX stock by members of Congress over the last 6 months:

REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 4 times. They made 0 purchases and 4 sales worth up to $60,000 on 04/21, 04/16, 02/24, 02/23.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 04/14.
REPRESENTATIVE RICK LARSEN sold up to $15,000 on 04/07.
SENATOR SHELLEY MOORE CAPITO has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 02/20, 11/13.
REPRESENTATIVE RICK W. ALLEN sold up to $50,000 on 01/14.
REPRESENTATIVE MARJORIE TAYLOR GREENE purchased up to $50,000 on 11/12.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$PAYX Analyst Ratings

Wall Street analysts have issued reports on $PAYX in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Underweight" rating on 12/22/2025

To track analyst ratings and price targets for $PAYX, check out Quiver Quantitative's $PAYX forecast page.

$PAYX Price Targets

Multiple analysts have issued price targets for $PAYX recently. We have seen 13 analysts offer price targets for $PAYX in the last 6 months, with a median target of $102.0.

Here are some recent targets:

Kevin Mcveigh from UBS set a target price of $94.0 on 04/13/2026
Mark Marcon from Baird set a target price of $125.0 on 03/26/2026
Bryan C. Bergin from TD Cowen set a target price of $95.0 on 03/26/2026
Tien-Tsin Huang from JP Morgan set a target price of $100.0 on 03/26/2026
Bryan Keane from Citigroup set a target price of $99.0 on 03/26/2026
Jason Kupferberg from Wells Fargo set a target price of $95.0 on 03/26/2026
Ashish Sabadra from RBC Capital set a target price of $102.0 on 03/19/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.