Paychex (PAYX) Stock Price, News & Analysis

11 Wall Street 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 research analysts is that investors should "reduce" PAYX shares.
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11 brokers have issued twelve-month price targets for Paychex's stock. 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 4.4% from the stock's current price.
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Paychex's stock was trading at $119.11 at the start of the year. Since then, PAYX shares have decreased by 1.1% and is now trading at $117.79.
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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) posted its quarterly earnings results on Tuesday, April, 2nd. The business services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.01. The business services provider earned $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. Paychex had a net margin of 31.86% and a trailing twelve-month return on equity of 46.14%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share.
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Paychex announced a quarterly dividend on Thursday, January 18th. Shareholders of record on Tuesday, February 13th will be paid a dividend of $0.89 per share on Tuesday, February 27th. This represents a $3.56 annualized dividend and a dividend yield of 3.02%. The ex-dividend date 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 2.94%. 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 VictoryShares Free Cash Flow ETF (VFLO).

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

Paychex updated its FY 2024 earnings guidance on Tuesday, April, 2nd. The company provided earnings per share (EPS) 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 variety 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%), Grimes & Company Inc. (0.05%) and Gateway Investment Advisers LLC (0.05%). 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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