Paychex, Inc. (PAYX) Received Consensus Recommendation of “Hold” by Brokerages

Paychex, Inc. (PAYX) Received Consensus Recommendation of “Hold” by Brokerages

Paychex, Inc. (NASDAQ:PAYX) has been given an average rating of “Hold” by the eighteen analysts that are currently covering the company. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $57.64.

PAYX has been the subject of several analyst reports. Goldman Sachs Group Inc raised shares of Paychex from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Friday, December 16th. Royal Bank of Canada set a $54.00 target price on shares of Paychex and gave the company a “sell” rating in a research note on Thursday, December 22nd. Jefferies Group LLC reissued a “sell” rating and issued a $50.00 target price on shares of Paychex in a research note on Tuesday. Sanford C. Bernstein reissued an “underperform” rating and issued a $52.00 target price on shares of Paychex in a research note on Wednesday, December 21st. Finally, Argus reissued a “buy” rating and issued a $70.00 target price on shares of Paychex in a research note on Friday, December 23rd.

Shares of Paychex (NASDAQ:PAYX) traded up 0.3129% on Friday, reaching $61.7125. 513,590 shares of the company’s stock traded hands. Paychex has a 52 week low of $51.06 and a 52 week high of $63.03. The stock’s 50-day moving average price is $60.75 and its 200-day moving average price is $59.17. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 28.7035 and a beta of 0.86.

In other news, Director Joseph Doody sold 10,850 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $61.48, for a total transaction of $667,058.00. Following the completion of the transaction, the director now owns 24,243 shares of the company’s stock, valued at approximately $1,490,459.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jennifer R. Vossler sold 5,876 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $62.01, for a total transaction of $364,370.76. Following the transaction, the vice president now directly owns 23,483 shares of the company’s stock, valued at approximately $1,456,180.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,202 shares of company stock valued at $4,290,754. Corporate insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Motco increased its position in Paychex by 17.4% in the third quarter. Motco now owns 1,861 shares of the company’s stock worth $108,000 after buying an additional 276 shares in the last quarter. Financial Architects Inc increased its stake in Paychex by 4.1% in the third quarter. Financial Architects Inc now owns 1,914 shares of the company’s stock worth $111,000 after buying an additional 76 shares during the period. Ropes Wealth Advisors LLC increased its stake in Paychex by 4.2% in the third quarter. Ropes Wealth Advisors LLC now owns 1,921 shares of the company’s stock worth $111,000 after buying an additional 78 shares during the period. Kernodle & Katon Asset Management Group LLC increased its stake in Paychex by 4.6% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,068 shares of the company’s stock worth $120,000 after buying an additional 90 shares during the period. Finally, Pacad Investment Ltd. acquired a new stake in Paychex during the fourth quarter worth about $134,000. 69.28% of the stock is owned by institutional investors.

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.

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