Published On: Wed, Sep 7th, 2016

Paychex Inc. (NASDAQ:PAYX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Paychex Inc. (NASDAQ:PAYX) have been assigned an average rating of “Hold” from the fourteen ratings firms that are covering the stock. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $51.90.
Paychex (NASDAQ:PAYX) traded up 0.51% on Wednesday, reaching $61.55. The company’s stock had a trading volume of 804,602 shares. The stock has a market cap of $22.19 billion and a PE ratio of 29.45. Paychex has a 12-month low of $45.03 and a 12-month high of $61.87. The company’s 50 day moving average price is $60.08 and its 200-day moving average price is $55.66.
Paychex (NASDAQ:PAYX) last announced its earnings results on Thursday, June 30th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. During the same period in the prior year, the company earned $0.44 earnings per share. The firm earned $753.90 million during the quarter. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Paychex will post $2.21 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 1st were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from Paychex’s previous quarterly dividend of $0.42.
In related news, VP John B. Gibson sold 11,450 shares of Paychex stock in a transaction on Friday, July 29th. The stock was sold at an average price of $59.00, for a total transaction of $675,550.00. Following the transaction, the vice president now directly owns 21,451 shares in the company, valued at $1,265,609. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie L. Schaeffer sold 3,438 shares of Paychex stock in a transaction on Friday, July 8th. The shares were sold at an average price of $61.33, for a total value of $210,852.54. The disclosure for this sale can be found here. 11.30% of the stock is owned by insiders.
Several brokerages have recently issued reports on PAYX. Zacks Investment Research raised Paychex from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $49.00 target price on shares of Paychex in a research report on Tuesday, August 23rd. Sanford C. Bernstein reissued an “underperform” rating and issued a $52.00 target price (up previously from $40.00) on shares of Paychex in a research report on Tuesday, July 12th. Deutsche Bank AG reissued a “hold” rating and issued a $56.00 target price (up previously from $51.00) on shares of Paychex in a research report on Wednesday, July 6th. Finally, Jefferies Group reissued an “underperform” rating and issued a $40.00 target price on shares of Paychex in a research report on Tuesday, July 5th.
Paychex, Inc, is a provider of integrated payroll, human Resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base, through the efforts of its direct sales force; improving client service, through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions.

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