Paychex, Inc. (NASDAQ:PAYX) Given Average Recommendation of “Hold” by Brokerages

Paychex, Inc. (NASDAQ:PAYX) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $105.80.

Several analysts have issued reports on PAYX shares. Wells Fargo & Company dropped their price objective on Paychex from $116.00 to $95.00 and set an “underweight” rating on the stock in a research note on Thursday, March 26th. Robert W. Baird reduced their target price on Paychex from $148.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. JPMorgan Chase & Co. boosted their target price on Paychex from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, June 25th. Stifel Nicolaus increased their price target on Paychex from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Finally, Stephens cut their price target on Paychex from $125.00 to $105.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Tucci sold 3,907 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $98.25, for a total transaction of $383,862.75. Following the completion of the sale, the director owned 67,364 shares in the company, valued at approximately $6,618,513. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Paychex during the fourth quarter worth approximately $31,000. Cornerstone Planning Group LLC increased its stake in shares of Paychex by 957.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock worth $30,000 after purchasing an additional 268 shares during the period. Kingdom Financial Group LLC. acquired a new stake in Paychex during the 4th quarter worth approximately $33,000. Board of the Pension Protection Fund acquired a new stake in Paychex during the 4th quarter worth approximately $34,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Paychex during the 4th quarter worth approximately $34,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Down 0.3%

Paychex stock opened at $114.39 on Friday. The firm has a market capitalization of $40.98 billion, a PE ratio of 23.39 and a beta of 0.84. The company’s 50-day moving average is $100.05 and its 200-day moving average is $98.39. Paychex has a fifty-two week low of $85.45 and a fifty-two week high of $148.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.26.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. Paychex had a net margin of 27.03% and a return on equity of 50.90%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $1.19 EPS. Paychex’s revenue was up 12.5% on a year-over-year basis. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Sell-side analysts anticipate that Paychex will post 5.96 earnings per share for the current year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be given a $1.19 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $4.76 annualized dividend and a dividend yield of 4.2%. Paychex’s dividend payout ratio is presently 97.34%.

Paychex Company Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.