Paychex Inc. Sets New 1-Year High at $45.95 (PAYX)
Paychex (NASDAQ:PAYX) set a new 52-week high on Tuesday, American Banking & Market News reports. The company traded as high as $45.95 and last traded at $45.15, with a volume of 1,460,849 shares. The stock had previously closed at $44.83.
A number of research firms have recently commented on PAYX. Analysts at RBC Capital raised their price target on shares of Paychex from $42.00 to $47.00 in a research note to investors on Friday, December 20th. Separately, analysts at Bank of America Corp. reiterated a “neutral” rating on shares of Paychex in a research note to investors on Friday, December 20th. They now have a $47.00 price target on the stock, up previously from $41.00. Finally, analysts at Jefferies Group raised their price target on shares of Paychex from $31.00 to $34.00 in a research note to investors on Friday, December 20th. They now have an “underperform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.15.
Paychex has a one year low of $31.54 and a one year high of $45.94. The stock has a 50-day moving average of $44.01 and a 200-day moving average of $41.. The company has a market cap of $16.422 billion and a price-to-earnings ratio of 27.84.
Paychex (NASDAQ:PAYX) last announced its earnings data on Thursday, December 19th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.01. The company had revenue of $610.50 million for the quarter, compared to the consensus estimate of $598.89 million. During the same quarter last year, the company posted $0.41 earnings per share. Paychex’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Paychex will post $1.70 earnings per share for the current fiscal year.
Paychex, Inc is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.
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