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

Paychex, Inc. (NASDAQ:PAYXGet Rating) has been given an average recommendation of “Hold” by the fifteen brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $127.14.

Several research analysts recently weighed in on PAYX shares. Robert W. Baird boosted their price objective on shares of Paychex from $137.00 to $142.00 in a research report on Thursday, March 31st. Bank of America upgraded shares of Paychex from an “underperform” rating to a “neutral” rating and set a $125.00 price objective for the company in a research report on Wednesday, March 9th. Morgan Stanley boosted their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 31st. StockNews.com started coverage on shares of Paychex in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup boosted their price objective on shares of Paychex from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 6th.

In related news, VP Michael E. Gioja sold 26,000 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were 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 in the company, valued at approximately $7,394,819.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Karen E. Saunders-Mcclendon sold 203 shares of the company’s stock in a transaction on Friday, April 15th. The shares were sold at an average price of $136.69, for a total transaction of $27,748.07. Following the completion of the sale, the vice president now 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 and other institutional investors have recently made changes to their positions in the stock. Rather & Kittrell Inc. acquired a new position in Paychex in the 4th quarter worth $25,000. MCF Advisors LLC acquired a new position in Paychex in the 1st quarter worth $25,000. Clear Investment Research LLC acquired a new position in Paychex in the 1st quarter worth $27,000. Princeton Global Asset Management LLC acquired a new position in Paychex in the 1st quarter worth $27,000. Finally, Enterprise Trust & Investment Co acquired a new position in Paychex in the 4th quarter worth $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Shares of PAYX opened at $119.69 on Friday. The company has a market capitalization of $43.21 billion, a P/E ratio of 31.92, a PEG ratio of 4.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.27. Paychex has a one year low of $97.23 and a one year high of $141.92. The business’s 50 day simple moving average is $129.87 and its 200-day simple moving average is $125.66.

Paychex (NASDAQ:PAYXGet Rating) last announced its earnings results on Wednesday, March 30th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.04 by $0.11. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.22 billion. Paychex had a return on equity of 43.02% and a net margin of 30.23%. Paychex’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. On average, sell-side analysts anticipate that Paychex will post 3.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Investors of record on Thursday, May 12th will be given a $0.79 dividend. The ex-dividend date is Wednesday, May 11th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.64%. This is a boost from Paychex’s previous quarterly dividend of $0.66. Paychex’s dividend payout ratio is currently 84.27%.

Paychex Company Profile (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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