Paychex, Inc. (PAYX) Receives Average Rating of “Hold” from Analysts

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.

Institutional investors have recently added to or reduced their stakes in the business. AXA raised its holdings in shares of Paychex by 3.4% in the 3rd quarter. AXA now owns 259,299 shares of the business services provider’s stock valued at $15,547,000 after purchasing an additional 8,621 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Paychex by 468.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,934 shares of the business services provider’s stock valued at $536,000 after purchasing an additional 7,362 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Paychex in the 3rd quarter valued at $641,000. Gyroscope Capital Management Group LLC acquired a new stake in Paychex during the 3rd quarter worth $448,000. Finally, Moors & Cabot Inc. raised its stake in Paychex by 20.4% during the 3rd quarter. Moors & Cabot Inc. now owns 8,076 shares of the business services provider’s stock worth $485,000 after acquiring an additional 1,367 shares in the last quarter. Institutional investors own 68.02% of the company’s stock.

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%.

COPYRIGHT VIOLATION WARNING: This story was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/3078415/paychex-inc-payx-receives-average-rating-of-hold-from-analysts.html.

About Paychex

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.

Analyst Recommendations for Paychex (NASDAQ:PAYX)

Receive News & Ratings for Paychex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.