Shares of Paychex, Inc. (NASDAQ:PAYX) have earned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $84.50.

Several research firms recently issued reports on PAYX. Argus reiterated a “buy” rating and issued a $92.00 price target on shares of Paychex in a report on Thursday, October 3rd. Robert W. Baird increased their target price on Paychex from $83.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays increased their target price on Paychex from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. ValuEngine lowered Paychex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub raised Paychex from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 16th.

In other news, VP Michael E. Gioja sold 17,881 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $85.81, for a total transaction of $1,534,368.61. Following the sale, the vice president now owns 70,023 shares of the company’s stock, valued at $6,008,673.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael E. Gioja sold 50,088 shares of Paychex stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $85.74, for a total value of $4,294,545.12. Following the completion of the sale, the vice president now directly owns 70,023 shares in the company, valued at approximately $6,003,772.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,296 shares of company stock worth $6,955,834. 11.70% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Alberta Investment Management Corp raised its position in Paychex by 31.8% in the 2nd quarter. Alberta Investment Management Corp now owns 303,100 shares of the business services provider’s stock valued at $24,942,000 after buying an additional 73,200 shares during the last quarter. CIBC Asset Management Inc raised its position in Paychex by 0.3% in the 3rd quarter. CIBC Asset Management Inc now owns 55,842 shares of the business services provider’s stock valued at $4,622,000 after buying an additional 181 shares during the last quarter. Stifel Financial Corp raised its position in Paychex by 5.0% in the 3rd quarter. Stifel Financial Corp now owns 363,860 shares of the business services provider’s stock valued at $30,053,000 after buying an additional 17,421 shares during the last quarter. Dearborn Partners LLC raised its position in Paychex by 36.7% in the 3rd quarter. Dearborn Partners LLC now owns 9,966 shares of the business services provider’s stock valued at $825,000 after buying an additional 2,673 shares during the last quarter. Finally, UMB Bank N A MO raised its position in Paychex by 2.3% in the 3rd quarter. UMB Bank N A MO now owns 130,122 shares of the business services provider’s stock valued at $10,770,000 after buying an additional 2,912 shares during the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.

Paychex stock traded up $0.41 during mid-day trading on Thursday, hitting $88.65. The stock had a trading volume of 1,786,294 shares, compared to its average volume of 1,398,005. The stock has a 50-day simple moving average of $85.47 and a two-hundred day simple moving average of $84.08. The stock has a market capitalization of $31.58 billion, a PE ratio of 29.65, a P/E/G ratio of 4.06 and a beta of 0.87. Paychex has a 12 month low of $68.82 and a 12 month high of $88.92. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $988.26 million. Paychex had a return on equity of 41.21% and a net margin of 26.72%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. Sell-side analysts expect that Paychex will post 3.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, January 31st. Paychex’s dividend payout ratio is currently 87.32%.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Analyst Recommendations for Paychex (NASDAQ:PAYX)

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