Shares of Paychex, Inc. (NASDAQ:PAYX) have earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $61.19.
A number of brokerages have weighed in on PAYX. Bank of America upped their price objective on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target for the company in a research report on Monday. BMO Capital Markets restated a “market perform” rating and set a $62.00 price target (up previously from $60.00) on shares of Paychex in a research report on Wednesday, October 4th. Morgan Stanley restated an “equal weight” rating and set a $59.00 price target (up previously from $55.00) on shares of Paychex in a research report on Wednesday, October 4th. Finally, Robert W. Baird restated a “hold” rating and set a $64.00 price target on shares of Paychex in a research report on Wednesday, October 4th.
In related news, CEO Martin Mucci sold 29,786 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $63.17, for a total transaction of $1,881,581.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Laurie L. Zaucha sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $62.00, for a total transaction of $930,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 94,395 shares of company stock valued at $5,914,383 in the last ninety days. 11.70% of the stock is currently owned by corporate insiders.
Shares of Paychex (NASDAQ PAYX) traded up $0.47 during trading on Friday, hitting $68.41. 1,830,330 shares of the company’s stock were exchanged, compared to its average volume of 1,990,800. The firm has a market capitalization of $24,294.25, a P/E ratio of 29.78, a P/E/G ratio of 3.66 and a beta of 0.99. Paychex has a 1-year low of $54.20 and a 1-year high of $68.67.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $816.80 million during the quarter, compared to the consensus estimate of $816.34 million. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. analysts expect that Paychex will post 2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $2.00 annualized dividend and a dividend yield of 2.92%. Paychex’s dividend payout ratio (DPR) is 87.34%.
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Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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