Shares of Paychex, Inc. (NASDAQ:PAYX – Get Free Report) have received an average rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $107.5333.
A number of analysts have commented on PAYX shares. UBS Group upped their price objective on shares of Paychex from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup raised shares of Paychex from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $99.00 to $140.00 in a research report on Monday, June 15th. Argus upgraded shares of Paychex to a “strong-buy” rating in a report on Friday, March 27th. Morgan Stanley upped their price target on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paychex in a research note on Thursday, May 28th.
Check Out Our Latest Report on Paychex
Insider Activity
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC grew its stake in Paychex by 957.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 296 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Paychex in the fourth quarter worth approximately $31,000. Kingdom Financial Group LLC. purchased a new stake in shares of Paychex in the fourth quarter worth approximately $33,000. Leonteq Securities AG boosted its holdings in shares of Paychex by 2,669.2% during the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock worth $33,000 after purchasing an additional 347 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Paychex during the fourth quarter worth approximately $34,000. 83.47% of the stock is owned by institutional investors and hedge funds.
Paychex Stock Up 2.6%
Shares of Paychex stock opened at $113.55 on Friday. Paychex has a 12-month low of $85.45 and a 12-month high of $148.11. The firm has a market capitalization of $40.39 billion, a PE ratio of 23.22 and a beta of 0.84. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $102.13 and its 200-day moving average is $98.40.
Paychex (NASDAQ:PAYX – Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. Paychex had a return on equity of 50.90% and a net margin of 27.03%.Paychex’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Paychex has set its FY 2027 guidance at 5.900-6.010 EPS. Equities analysts anticipate that Paychex will post 5.96 earnings per share for the current year.
Paychex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.19 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.2%. Paychex’s dividend payout ratio is presently 97.34%.
About Paychex
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.
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