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Paychex (PAYX) Stock Price, News & Analysis

$122.80
+1.27 (+1.05%)
(As of 05:22 PM ET)
Today's Range
$121.85
$122.97
50-Day Range
$118.96
$124.71
52-Week Range
$104.09
$129.70
Volume
1.61 million shs
Average Volume
1.68 million shs
Market Capitalization
$44.19 billion
P/E Ratio
27.29
Dividend Yield
2.90%
Price Target
$122.77

Paychex MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.82 Rating Score
Upside/​Downside
0.0% Downside
$122.77 Price Target
Short Interest
Bearish
3.62% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-0.14
Upright™ Environmental Score
News Sentiment
0.66mentions of Paychex in the last 14 days
Based on 18 Articles This Week
Insider Trading
Selling Shares
$3.79 M Sold Last Quarter
Proj. Earnings Growth
6.14%
From $4.72 to $5.01 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.26 out of 5 stars

Business Services Sector

47th out of 311 stocks

Engineering, Accounting, Research, Management & Related Services Industry

2nd out of 2 stocks

PAYX stock logo

About Paychex Stock (NASDAQ:PAYX)

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, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.

PAYX Stock Price History

PAYX Stock News Headlines

Did You Get Your Free Bitcoin Yet?
And my special guest is willing to give you $10 in Bitcoin (BTC) if you take it seriously. Right now is a very important time to pay attention to what we are doing and what is happening. If you wait... it will be too late. This week we are holding several workshops and if you attend and pay attention my special guest is going to send you $10 in Bitcoin.
Paychex (PAYX) Shares Cross 3% Yield Mark
Paychex (PAYX) Gets a Hold from Evercore ISI
Did You Get Your Free Bitcoin Yet?
And my special guest is willing to give you $10 in Bitcoin (BTC) if you take it seriously. Right now is a very important time to pay attention to what we are doing and what is happening. If you wait... it will be too late. This week we are holding several workshops and if you attend and pay attention my special guest is going to send you $10 in Bitcoin.
PAYX May 2024 135.000 call
PAYX Jan 2026 85.000 put
Paychex (PAYX) Set to Announce Earnings on Wednesday
PAYX Apr 2024 125.000 call
PAYX Crosses Above Average Analyst Target
See More Headlines
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Company Calendar

Last Earnings
9/27/2023
Ex-Dividend for 2/27 Dividend
2/12/2024
Dividend Payable
2/27/2024
Today
3/28/2024
Next Earnings (Confirmed)
4/02/2024
Fiscal Year End
5/31/2024

Industry, Sector and Symbol

Industry
Engineering, accounting, research, management & related services
Sub-Industry
Data Processing & Outsourced Services
Current Symbol
NASDAQ:PAYX
CUSIP
70432610
Employees
16,600
Year Founded
1971

Price Target and Rating

Average Stock Price Target
$122.77
High Stock Price Target
$130.00
Low Stock Price Target
$106.00
Potential Upside/Downside
+0.3%
Consensus Rating
Reduce
Rating Score (0-4)
1.82
Research Coverage
11 Analysts

Profitability

Net Income
$1.56 billion
Pretax Margin
41.67%

Debt

Sales & Book Value

Annual Sales
$5.01 billion
Cash Flow
$5.57 per share
Book Value
$9.69 per share

Miscellaneous

Free Float
318,442,000
Market Cap
$44.06 billion
Optionable
Optionable
Beta
0.94

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Should I Buy Paychex Stock? PAYX Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Paychex was last updated on Wednesday, March 27, 2024 at 10:56 PM.

Pros

Here are some ways that investors could benefit from investing in Paychex, Inc.:

  • Paychex provides integrated human capital management solutions for HR, payroll, benefits, and insurance services, catering to small to medium-sized businesses in multiple countries.
  • The company offers a range of services including payroll processing, tax administration, regulatory compliance, and retirement services administration, providing comprehensive solutions for businesses.
  • Paychex offers cloud-based HR administration software products for employee benefits management, time and attendance, digital communication solutions, recruiting, and onboarding, enhancing operational efficiency for clients.
  • Paychex provides insurance services for property and casualty coverage, health, dental, vision, and life, offering a one-stop solution for various insurance needs of businesses.
  • Company insiders own a significant percentage of the company's stock (11.50%), indicating confidence in the company's performance and future prospects.

Cons

Investors should be bearish about investing in Paychex, Inc. for these reasons:

  • Paychex operates in the competitive industry of data processing and outsourced services, facing competition from various players in the market.
  • The company's stock price can be subject to market volatility and economic conditions, impacting investor returns.
  • Changes in government regulations related to HR, payroll, and insurance services could affect Paychex's operations and financial performance.
  • Economic downturns or recessions may lead to reduced demand for Paychex's services as businesses cut costs, potentially impacting the company's revenue.
  • Investors should consider the overall market conditions and economic outlook before making investment decisions related to Paychex, Inc.

PAYX Stock Analysis - Frequently Asked Questions

Should I buy or sell Paychex stock right now?

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.
View PAYX analyst ratings
or view top-rated stocks.

What is Paychex's stock price target for 2024?

11 brokers have issued 12 month target prices for Paychex's stock. Their PAYX share price targets range from $106.00 to $130.00. On average, they predict the company's stock price to reach $122.77 in the next year. This suggests that the stock has a possible downside of 0.0%.
View analysts price targets for PAYX
or view top-rated stocks among Wall Street analysts.

How have PAYX shares performed in 2024?

Paychex's stock was trading at $119.11 at the beginning of the year. Since then, PAYX stock has increased by 3.1% and is now trading at $122.80.
View the best growth stocks for 2024 here
.

When is Paychex's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 2nd 2024.
View our PAYX earnings forecast
.

How were Paychex's earnings last quarter?

Paychex, Inc. (NASDAQ:PAYX) released its earnings results on Wednesday, September, 27th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. The business services provider earned $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Paychex had a net margin of 31.62% and a trailing twelve-month return on equity of 46.37%. The business's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share.
Read the conference call transcript
.

How often does Paychex pay dividends? What is the dividend yield for Paychex?

Paychex declared a quarterly dividend on Thursday, January 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 12th.
Read our dividend analysis for PAYX
.

Is Paychex a good dividend stock?

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.56 per share and currently has a dividend yield of 2.98%. 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 79.11%. 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 71.06% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

How will Paychex's stock buyback program work?

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

What is Martin Mucci's approval rating as Paychex's CEO?

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.

What other stocks do shareholders of Paychex own?

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).

Who are Paychex's major shareholders?

Paychex's stock is owned by a number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (8.45%), Vanguard Group Inc. (8.45%), Capital International Investors (5.14%), Charles Schwab Investment Management Inc. (1.89%), Northern Trust Corp (1.20%) and Legal & General Group Plc (0.88%). 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.
View institutional ownership trends
.

How do I buy shares of Paychex?

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.
Compare Top Brokerages Here.

Does Paychex have any subsidiaries?
The following companies are subsidiares of Paychex: Advance Partners, Advantage Payroll Services, DHR Services Holdings LLC, ESG Consulting II LLC, ESG Entities II LLC, ESG PEO LLC, ExpenseWire, Flock, Fortune Industries LLC, Gordian Capital Holdings LLC, HR Outsourcing, Icon Time Systems, InterPay, Lessor Group, Oasis AHR II LLC, Oasis AHR PL LLC, Oasis DHR LLC, Oasis Outsourcing, Oasis Outsourcing Acquisition Corporation, Oasis Outsourcing Contract III Inc., Oasis Outsourcing Holdings Inc., Oasis Outsourcing LLC, Oasis Outsourcing TX LLC, Oasis Outsourcing V LLC, Oasis Payroll Services Inc., Olsen Computer Systems, PXC Inc., Paychex Benefit Technologies, Paychex Holdings LLC, Paychex Insurance Agency Inc., Paychex Investment LLC, Paychex Management LLC, Paychex North America Inc., Paychex of New York LLC, Professional Staff Management Inc., SurePayroll, The Payroll Company, ePlan Services, myStaffingPro by HR Services, and nettime Solutions.
Read More
This page (NASDAQ:PAYX) was last updated on 3/28/2024 by MarketBeat.com Staff

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