Paychex, Inc. (NASDAQ:PAYX) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and twelve have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $62.77.
Several research firms recently weighed in on PAYX. BMO Capital Markets restated a “hold” rating and set a $70.00 price target on shares of Paychex in a report on Wednesday, January 24th. BidaskClub lowered Paychex from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Bank of America lowered Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a report on Tuesday, January 9th. Stifel Nicolaus restated a “hold” rating and set a $68.00 price target on shares of Paychex in a report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target on the stock in a report on Monday, December 4th.
In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total value of $682,900.00. Following the transaction, the vice president now owns 31,578 shares of the company’s stock, valued at approximately $2,156,461.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael E. Gioja sold 34,311 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the completion of the transaction, the insider now directly owns 63,374 shares in the company, valued at approximately $4,367,102.34. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PAYX. Dimensional Fund Advisors LP grew its position in Paychex by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 984,218 shares of the business services provider’s stock valued at $56,041,000 after acquiring an additional 9,132 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Paychex during the 2nd quarter worth $872,000. Toronto Dominion Bank grew its position in shares of Paychex by 31.2% during the 2nd quarter. Toronto Dominion Bank now owns 117,056 shares of the business services provider’s stock worth $6,664,000 after buying an additional 27,820 shares in the last quarter. Navellier & Associates Inc grew its position in shares of Paychex by 3.1% during the 2nd quarter. Navellier & Associates Inc now owns 24,636 shares of the business services provider’s stock worth $1,403,000 after buying an additional 743 shares in the last quarter. Finally, Intl Fcstone Inc. bought a new position in shares of Paychex during the 2nd quarter worth $1,335,000. 67.98% of the stock is currently owned by institutional investors.
Shares of Paychex (NASDAQ PAYX) traded up $0.34 on Wednesday, hitting $66.81. The stock had a trading volume of 3,203,700 shares, compared to its average volume of 2,494,673. The stock has a market cap of $23,997.18, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.59 and a beta of 0.94. Paychex has a twelve month low of $54.20 and a twelve month high of $73.10.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The business had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same period in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. equities analysts predict that Paychex will post 2.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is presently 85.84%.
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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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