Paychex (NASDAQ:PAYX) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.83-2.86 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.85.
Several brokerages have commented on PAYX. BMO Capital Markets reaffirmed a market perform rating on shares of Paychex in a research report on Thursday. Morgan Stanley boosted their price objective on Paychex from $67.00 to $73.00 and gave the company an equal weight rating in a research report on Wednesday, October 3rd. Barclays initiated coverage on Paychex in a research report on Wednesday, November 14th. They set an equal weight rating and a $70.00 price objective on the stock. Citigroup boosted their price objective on Paychex from $67.00 to $73.00 and gave the company a neutral rating in a research report on Wednesday, October 3rd. Finally, BidaskClub upgraded Paychex from a buy rating to a strong-buy rating in a research report on Thursday, November 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $72.93.
Shares of PAYX stock opened at $64.96 on Friday. The firm has a market capitalization of $23.25 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.67 and a beta of 1.03. Paychex has a one year low of $59.36 and a one year high of $76.02.
In other Paychex news, Director Joseph Doody acquired 1,000 shares of Paychex stock in a transaction on Tuesday, October 23rd. The shares were bought at an average price of $66.50 per share, with a total value of $66,500.00. Following the completion of the purchase, the director now owns 16,639 shares in the company, valued at $1,106,493.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.80% of the stock is currently owned by insiders.
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Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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