Paychex (PAYX) Stock Price, News & Analysis

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 2 sell ratings and 9 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" PAYX shares.
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11 equities research analysts have issued 1-year price targets for Paychex's shares. Their PAYX share price targets range from $111.00 to $130.00. On average, they predict the company's share price to reach $123.00 in the next year. This suggests a possible upside of 0.4% from the stock's current price.
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Paychex's stock was trading at $119.11 at the beginning of 2024. Since then, PAYX shares have increased by 2.8% and is now trading at $122.45.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 4th 2024.
View our PAYX earnings forecast.

Paychex, Inc. (NASDAQ:PAYX) issued its quarterly earnings results on Tuesday, April, 2nd. The business services provider reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.01. The business services provider earned $1.44 billion during the quarter, compared to analyst estimates of $1.46 billion. Paychex had a trailing twelve-month return on equity of 46.14% and a net margin of 31.86%. Paychex's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS.
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Paychex announced a quarterly dividend on Thursday, January 18th. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.89 per share on Tuesday, February 27th. This represents a $3.56 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, February 12th.
Read our dividend analysis for PAYX.

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.56 per share and currently has a dividend yield of 2.89%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 77.56%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, PAYX will have a dividend payout ratio of 71.63% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

ETFs with the largest weight of Paychex (NASDAQ:PAYX) stock in their portfolio include USCF Dividend Income Fund (UDI), SmartETFs Dividend Builder ETF (DIVS), Democratic Large Cap Core ETF (DEMZ), First Trust Capital Strength ETF (FTCS), SEI Enhanced U.S. Large Cap Quality Factor ETF (SEIQ), Dividend Performers ETF (IPDP), First Trust NASDAQ 100 Ex-Technology Sector Index Fund (QQXT) and Inspire 100 ETF (BIBL).

Paychex declared that its board has authorized a stock repurchase program on Friday, January 19th 2024, which permits the company to buyback $400,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Paychex updated its FY 2024 earnings guidance on Tuesday, April, 2nd. The company provided earnings per share guidance of 4.700-4.740 for the period, compared to the consensus estimate of 4.710. The company issued revenue guidance of $5.3 billion-$5.3 billion, compared to the consensus revenue estimate of $5.3 billion.

975 employees have rated Paychex Chief Executive Officer Martin Mucci on Glassdoor.com. Martin Mucci has an approval rating of 90% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Paychex investors own include Intel (INTC), Cisco Systems (CSCO), AT&T (T), General Electric (GE), Johnson & Johnson (JNJ), Pfizer (PFE), Verizon Communications (VZ), NVIDIA (NVDA), Procter & Gamble (PG) and AbbVie (ABBV).

Paychex's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Guinness Asset Management LTD (0.37%), Confluence Investment Management LLC (0.33%), Miller Howard Investments Inc. NY (0.16%), Welch Group LLC (0.11%), Gateway Investment Advisers LLC (0.05%) and Global Assets Advisory LLC (0.03%). Insiders that own company stock include David J S Flaschen, David J S Flaschen, Efrain Rivera, John B Gibson, Joseph Doody, Joseph M Tucci, Joseph M Velli, Karen E Saunders-Mcclendon, Mark Anthony Bottini, Martin Mucci, Michael E Gioja, Robert L Schrader, Robert L Schrader, Stephanie L Schaeffer and Stephanie L Schaeffer.
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Shares of PAYX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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