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

Shares of Paychex, Inc. (NASDAQ:PAYX) have received a consensus rating of “Hold” from the seventeen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $73.92.

A number of research analysts recently weighed in on PAYX shares. Credit Suisse Group boosted their target price on Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $64.00 to $68.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Barclays upped their price objective on Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, April 1st.

Shares of PAYX stock traded up $0.03 during trading on Tuesday, reaching $81.59. 1,224,798 shares of the company’s stock were exchanged, compared to its average volume of 1,883,436. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $29.30 billion, a PE ratio of 32.00, a PEG ratio of 3.18 and a beta of 1.04. Paychex has a twelve month low of $59.55 and a twelve month high of $82.64.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, March 27th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. As a group, sell-side analysts predict that Paychex will post 2.85 EPS for the current fiscal year.

In other Paychex news, CEO Martin Mucci sold 50,000 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $72.32, for a total value of $3,616,000.00. Following the completion of the transaction, the chief executive officer now directly owns 349,929 shares in the company, valued at $25,306,865.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph M. Tucci sold 6,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $82.29, for a total value of $514,312.50. Following the completion of the transaction, the director now owns 56,117 shares of the company’s stock, valued at $4,617,867.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,272 shares of company stock worth $16,042,029. Insiders own 11.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Paychex by 5.9% in the fourth quarter. BlackRock Inc. now owns 28,030,198 shares of the business services provider’s stock valued at $1,826,167,000 after buying an additional 1,560,669 shares during the period. Vanguard Group Inc. increased its stake in shares of Paychex by 1.5% in the third quarter. Vanguard Group Inc. now owns 25,237,021 shares of the business services provider’s stock valued at $1,858,708,000 after buying an additional 363,583 shares during the period. Vanguard Group Inc increased its stake in shares of Paychex by 1.5% in the third quarter. Vanguard Group Inc now owns 25,237,021 shares of the business services provider’s stock valued at $1,858,708,000 after buying an additional 363,583 shares during the period. Lunia Capital LP increased its stake in shares of Paychex by 8,881.0% in the fourth quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock valued at $10,859,000 after buying an additional 10,738,096 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Paychex by 1,614,724.4% in the third quarter. Bank of New York Mellon Corp now owns 8,477,828 shares of the business services provider’s stock valued at $624,389,000 after buying an additional 8,477,303 shares during the period. Hedge funds and other institutional investors own 68.66% of the company’s stock.

About Paychex

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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Analyst Recommendations for Paychex (NASDAQ:PAYX)

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