Paychex Stock Rating Upgraded by EVA Dimensions LLC (PAYX)
Paychex (NASDAQ:PAYX) was upgraded by equities research analysts at EVA Dimensions LLC from a “hold” rating to an “overweight” rating in a research note issued to investors on Tuesday, Analyst Ratings News reports.
A number of other analysts have also recently weighed in on PAYX. Analysts at RBC Capital raised their price target on shares of Paychex from $42.00 to $47.00 in a research note on Friday, December 20th. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Paychex in a research note 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 on Friday, December 20th. They now have an “underperform” rating on the stock. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $38.15.
Paychex (NASDAQ:PAYX) traded down 0.02% on Tuesday, hitting $41.52. 275,244 shares of the company’s stock traded hands. Paychex has a 52 week low of $32.73 and a 52 week high of $45.95. The stock’s 50-day moving average is $42.45 and its 200-day moving average is $41.90. The company has a market cap of $15.122 billion and a P/E ratio of 25.80.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Paychex will post $1.70 EPS 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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