Miller Howard Investments 13F: Adds $1.2M to Paychex (PAYX) Stake
Key Points
- Miller Howard Investments added 12,486 shares to its position in Paychex, bringing its total holdings to 516,109 shares valued at approximately $50.8 million.
- The fund's position now represents 4.72% of its total reported value of about $1.08 billion and ranks 10th among its 159 holdings.
- Paychex shares recently traded around $115.70, slightly above the $115.02 closing price on the filing date, indicating a 0.6% increase since then.
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Miller Howard Investments increased its stake in Paychex, Inc. (PAYX) by 12,486 shares, bringing its total holdings to 516,109 shares. This move was disclosed in a filing on October 26, 2026, and the total value of this position is about $50.8 million.
PAYX
Paychex, Inc.
What Changed in Miller Howard Investments' Paychex Position
Miller Howard's increase represents a 2.48% rise in its Paychex stake since the end of the previous quarter. The fund now holds 516,109 shares, reflecting a commitment to the company amid its ongoing performance in the human capital management sector.
Where Paychex Fits in Miller Howard's Portfolio
This position accounts for 4.72% of Miller Howard's total reported value, ranking it 10th out of 159 holdings in the fund's portfolio.
Other Institutional Activity in Paychex
Several other funds have also adjusted their positions in Paychex recently. Fifth Third Wealth Advisors raised its stake by 8,900 shares, now holding 12,935 shares valued at about $1.27 million. Integrated Advisors Network increased its position by 18,494 shares, bringing its total to 22,138 shares worth approximately $2.18 million. Abc Arbitrage opened a new position with 50,158 shares valued at around $4.94 million.
Paychex, Inc. Stock Down 2.6%
As of October 26, 2026, Paychex shares closed at $115.02. Recently, the stock has traded around $115.70, slightly above its event close, which may indicate a positive outlook among investors. The stock's performance is noteworthy as it continues to show resilience in the software application industry.
Recent Earnings
Paychex reported trailing twelve-month revenue of approximately $6.6 billion, with an earnings per share (EPS) of $5.04. The company's next earnings report is scheduled for December 18, 2026, which will provide further insights into its financial performance.
Insider Buying and Selling at Paychex, Inc.
Recent insider transactions include several executives selling shares. Martin Mucci, Chairman of the Board, sold 25,000 shares at an average price of $109.93 on July 14, 2026, totaling about $2.75 million. Other executives, including Christopher Simmons and Robert L. Schrader, also sold shares in July, reflecting ongoing activity among company executives.
Analysts Set New Price Targets
On September 24, 2026, UBS maintained a Neutral rating on Paychex with a price target of $115.00, while BMO Capital also maintained a Market Perform rating with a target of $113.00. Analysts generally remain cautious, with targets reflecting a slight decrease from previous estimates.
About Paychex
Paychex, Inc. provides human capital management solutions, including payroll processing and employee benefits, primarily for small to medium-sized businesses. The company's services are essential for businesses looking to streamline HR functions and comply with complex regulations.
Bottom Line
Investors will want to keep an eye on Paychex's upcoming earnings report on December 18, 2026, to gauge its financial health and market position. With several funds increasing their stakes, interest in Paychex appears to be growing, which could signal confidence in its future performance.
Related Filing Alerts
Source: Miller Howard Investments's 13F filing on $PAYX (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts