Shares of Paychex, Inc. (NASDAQ: PAYX) have received a consensus rating of “Hold” from the eighteen rating companies that cover the company, Marketbeat reports. Three equity research analysts rated the stock with a sell rating, seven issued a conservation rating, and five gave the company a buy rating. The one-year average price target among brokers who issued ratings on the stock in the past year is $ 107.67.
Several analysts have recently weighed on the company. Morgan Stanley raised its target price on Paychex from $ 97.00 to $ 105 and gave the stock an “equal weight” rating in a research report released Friday. raised its price target on Paychex from $ 105 to $ 121.00 and gave the company a “buy” rating in a report released on Wednesday, June 30. Stifel Nicolaus raised his price target on Paychex from $ 114.00 to $ 118.00 and gave the company a “conservation” rating in a research report on Thursday. Jefferies Financial Group raised its price target on Paychex from $ 95 to $ 115 and gave the stock a “hold” rating in a research report on Friday, June 25. Finally, BMO Capital Markets raised its target price on the Paychex stock from $ 112.00 to $ 118.00 and gave the stock a “market performance” rating in a research note on Friday.
In other Paychex news, director David JS Flaschen sold 10,850 Paychex shares in a trade on Friday July 16. The shares were sold for an average price of $ 112.41, for a total value of $ 1,219,648.50. As a result of the transaction, the Director now owns 1,879 shares of the company, valued at approximately $ 211,218.39. The sale was disclosed in a document filed with the SEC, accessible through the SEC’s website. In addition, Vice President Robert L. Schrader sold 686 shares of Paychex in a transaction that took place on Sunday August 1. The shares were sold at an average price of $ 113.82, for a total trade of $ 78,080.52. Following the transaction, the Vice-President now directly owns 12,411 shares of the company, valued at $ 1,412,620.02. Disclosure of this sale can be found here. During the last quarter, insiders sold 283,467 shares of the company valued at $ 31,877,536. Insiders own 11.70% of the shares of the company.
A number of hedge funds have recently changed their holdings in the company. Prentice Wealth Management LLC acquired a new position in Paychex shares in the first quarter valued at approximately $ 25,000. Disciplined Investments LLC acquired a new position in Paychex shares in the 2nd quarter valued at approximately $ 30,000. Exchange Traded Concepts LLC acquired a new position in Paychex shares in the second quarter valued at approximately $ 30,000. Concord Wealth Partners purchased a new position in Paychex shares during the 1st quarter valued at approximately $ 33,000. Finally, Providence Capital Advisors LLC purchased a new first quarter equity stake in Paychex valued at $ 34,000. Hedge funds and other institutional investors hold 69.75% of the company’s shares.
PAYX opened at $ 115.15 on Friday. Paychex has a one-year minimum of $ 78.00 and a one-year maximum of $ 118.22. The company has a market cap of $ 41.53 billion, a price / earnings ratio of 37.88, a PEG ratio of 4.09 and a beta of 0.91. The stock’s 50-day simple moving average is $ 112.92 and its 200-day simple moving average is $ 105.82. The company has a leverage ratio of 0.27, a current ratio of 1.25, and a quick ratio of 1.25.
Paychex (NASDAQ: PAYX) last released its quarterly earnings data on Wednesday, September 29. The business services provider reported earnings per share (EPS) of $ 0.89 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.80 of $ 0.09. Paychex had a return on equity of 38.04% and a net margin of 27.05%. The company posted revenue of $ 1.09 billion for the quarter, compared to analysts’ expectations of $ 1.04 billion. During the same period of the previous year, the company earned $ 0.63 per share. The company’s revenue for the quarter increased 16.8% year-over-year. As a group, sell-side analysts predict that Paychex will post 3.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 26. Investors of record on Monday August 2 received a dividend of $ 0.66. The ex-dividend date of this dividend was Friday July 30. This represents a dividend of $ 2.64 on an annualized basis and a yield of 2.29%. Paychex’s payout ratio is 86.84%.
Paychex announced that its board of directors launched a share buyback program on Thursday, July 8 that allows the company to repurchase $ 400.00 million of outstanding shares. This buyback authorization allows the business services provider to buy up to 1% of its shares through open market purchases. Share buyback programs are often a sign that the board of directors of the company feels that its shares are undervalued.
Paychex, Inc is committed to providing human capital management solutions for payroll, human resources, insurance and retirement for small and medium businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, benefits, finance and payments, human resources services, and start-up services.
Read more: How a put option works
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Paychex now?
Before you consider Paychex, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Paychex was not on the list.
While Paychex currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here