Paychex Given Average Recommendation of “Hold” by Analysts (NASDAQ:PAYX)
Paychex (NASDAQ:PAYX) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Stock Ratings Network.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $41.60.
A number of research firms have recently commented on PAYX. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Paychex in a research note on Wednesday, August 13th. They now have a $43.00 price target on the stock, up previously from $40.00. Separately, analysts at Goldman Sachs initiated coverage on shares of Paychex in a research note on Tuesday, July 8th. They set a “conviction-buy” rating on the stock.
In other Paychex news, VP Jennifer R. Vossler sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $40.40, for a total value of $202,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Paychex (NASDAQ:PAYX) opened at 41.55 on Thursday. Paychex has a 52 week low of $36.80 and a 52 week high of $45.95. The stock’s 50-day moving average is $41.6 and its 200-day moving average is $41.46. The company has a market cap of $15.087 billion and a P/E ratio of 24.39.
Paychex (NASDAQ:PAYX) last released its earnings data on Tuesday, July 1st. The company reported $0.40 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.40. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $617.35 million. During the same quarter last year, the company posted $0.38 earnings per share. Paychex’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Paychex will post $1.84 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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