Shares of Paychex, Inc. (NASDAQ:PAYX) have been assigned an average rating of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $62.10.

Several brokerages have recently commented on PAYX. BidaskClub cut shares of Paychex from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Bank of America cut shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 price target on shares of Paychex in a research report on Friday, December 22nd. Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a report on Monday, December 4th. Finally, Royal Bank of Canada reissued a “sell” rating and issued a $57.00 target price on shares of Paychex in a report on Wednesday, November 15th.

In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the sale, the vice president now owns 31,578 shares in the company, valued at $2,156,461.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John B. Gibson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $63.70, for a total transaction of $382,200.00. Following the completion of the sale, the vice president now owns 21,758 shares in the company, valued at approximately $1,385,984.60. The disclosure for this sale can be found here. Insiders sold 50,311 shares of company stock worth $3,429,471 in the last three months. 11.70% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its stake in shares of Paychex by 0.6% in the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 11 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $109,000. Sun Life Financial INC increased its stake in shares of Paychex by 23,260.0% in the second quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 2,326 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in shares of Paychex in the second quarter valued at approximately $145,000. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in shares of Paychex in the third quarter valued at approximately $188,000. Institutional investors own 67.88% of the company’s stock.

Shares of Paychex (PAYX) traded up $0.58 during mid-day trading on Friday, hitting $69.49. 2,559,512 shares of the stock traded hands, compared to its average volume of 2,090,000. Paychex has a twelve month low of $54.20 and a twelve month high of $70.39. The company has a market capitalization of $25,160.00, a PE ratio of 29.82, a price-to-earnings-growth ratio of 3.71 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The business had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts forecast that Paychex will post 2.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. Paychex’s dividend payout ratio is currently 60.94%.

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Paychex Company Profile

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

Analyst Recommendations for Paychex (NASDAQ:PAYX)

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