Brokerages Set Paychex, Inc. (PAYX) PT at $61.87

Paychex, Inc. (NASDAQ:PAYX) has been given a consensus rating of “Hold” by the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $61.87.

A number of equities analysts have recently commented on PAYX shares. BidaskClub raised shares of Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 price objective on shares of Paychex in a report on Friday, December 22nd. Robert W. Baird reaffirmed a “hold” rating and set a $64.00 price objective on shares of Paychex in a report on Wednesday, October 4th. Bank of America raised their price objective on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, December 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 price objective (up from $60.00) on shares of Paychex in a report on Wednesday, October 4th.

In related news, CEO Martin Mucci sold 29,786 shares of Paychex stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $63.17, for a total transaction of $1,881,581.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laurie L. Zaucha sold 15,000 shares of Paychex stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $62.00, for a total transaction of $930,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,395 shares of company stock valued at $5,014,383 over the last three months. 11.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carnick & Kubik Group LLC bought a new position in shares of Paychex in the third quarter worth about $1,332,000. Paragon Capital Management LLC raised its stake in shares of Paychex by 2.4% in the second quarter. Paragon Capital Management LLC now owns 213,047 shares of the business services provider’s stock worth $12,130,000 after acquiring an additional 4,921 shares during the last quarter. Chilton Investment Co. LLC raised its stake in shares of Paychex by 16.0% in the second quarter. Chilton Investment Co. LLC now owns 44,872 shares of the business services provider’s stock worth $2,555,000 after acquiring an additional 6,184 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Paychex by 1.4% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 213,833 shares of the business services provider’s stock worth $12,821,000 after acquiring an additional 2,855 shares during the last quarter. Finally, Reliance Trust Co. of Delaware raised its stake in shares of Paychex by 11.3% in the third quarter. Reliance Trust Co. of Delaware now owns 16,686 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 1,691 shares during the last quarter. 67.82% of the stock is owned by institutional investors.

Paychex (NASDAQ PAYX) traded down $0.26 during trading hours on Tuesday, hitting $68.08. 1,210,859 shares of the stock were exchanged, compared to its average volume of 1,988,629. The company has a market cap of $24,568.29, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.67 and a beta of 0.99. Paychex has a one year low of $54.20 and a one year high of $70.39.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The company had revenue of $826.50 million during the quarter, compared to the consensus estimate of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. equities research analysts anticipate that Paychex will post 2.4 EPS for the current year.

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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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