Paychex, Inc. (PAYX) Receives Average Rating of “Hold” from Analysts
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.
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.
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