Paychex, Inc. (NASDAQ:PAYX) Receives Average Recommendation of “Hold” from Analysts

Shares of Paychex, Inc. (NASDAQ:PAYXGet Rating) have been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $127.14.

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, March 31st. Stifel Nicolaus upped their target price on Paychex from $118.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, December 23rd. Bank of America upgraded Paychex from an “underperform” rating to a “neutral” rating and set a $125.00 target price for the company in a research report on Wednesday, March 9th. Cowen upgraded Paychex from a “market perform” rating to an “outperform” rating and upped their target price for the company from $130.00 to $145.00 in a research report on Tuesday, January 11th. Finally, StockNews.com initiated coverage on Paychex in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In other news, VP Michael E. Gioja sold 26,000 shares of the stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $141.26, for a total value of $3,672,760.00. Following the completion of the sale, the vice president now owns 52,349 shares of the company’s stock, valued at $7,394,819.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Karen E. Saunders-Mcclendon sold 203 shares of the stock in a transaction dated Friday, April 15th. The shares were sold at an average price of $136.69, for a total value of $27,748.07. Following the completion of the sale, the vice president now directly owns 2,994 shares of the company’s stock, valued at approximately $409,249.86. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Ieq Capital LLC grew its stake in Paychex by 112.9% during the third quarter. Ieq Capital LLC now owns 11,832 shares of the business services provider’s stock worth $1,331,000 after purchasing an additional 6,274 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Paychex by 1.0% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 422,645 shares of the business services provider’s stock worth $47,527,000 after purchasing an additional 4,081 shares during the period. Parsons Capital Management Inc. RI grew its stake in Paychex by 5.1% during the third quarter. Parsons Capital Management Inc. RI now owns 30,861 shares of the business services provider’s stock worth $3,470,000 after purchasing an additional 1,497 shares during the period. Cookson Peirce & Co. Inc. grew its stake in Paychex by 3,988.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 89,381 shares of the business services provider’s stock worth $10,051,000 after purchasing an additional 87,195 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Paychex by 626.0% during the third quarter. Public Sector Pension Investment Board now owns 365,014 shares of the business services provider’s stock worth $41,046,000 after purchasing an additional 314,740 shares during the period. 80.08% of the stock is owned by institutional investors.

Shares of NASDAQ PAYX opened at $137.46 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.27. The stock’s fifty day moving average price is $126.64 and its two-hundred day moving average price is $124.70. Paychex has a one year low of $96.12 and a one year high of $141.92. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 4.86 and a beta of 0.99.

Paychex (NASDAQ:PAYXGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The business services provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. Paychex had a return on equity of 43.02% and a net margin of 30.23%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Paychex will post 3.75 earnings per share for the current fiscal year.

About Paychex (Get Rating)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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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