The stock of Paychex Inc. (NASDAQ:PAYX) last traded at $108.85, down -1.04% from the previous session.
Data from the available sources indicates that Paychex Inc. (NASDAQ:PAYX) is covered by 20 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $140.00 and a low of $105.00, we find $121.00. Given the previous closing price of $109.99, this indicates a potential upside of 10.01 percent. PAYX stock price is now -0.00% away from the 50-day moving average and -6.43% away from the 200-day moving average. The market capitalization of the company currently stands at $39.48B.
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In total, 13 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $121.72 as their price target over the next twelve months.
In other news, Saunders-McClendon Karen E., VP, Chief Human Resources Offi sold 215 shares of the company’s stock on Apr 14. The stock was sold for $23,203 at an average price of $107.92. Upon completion of the transaction, the VP, Chief Human Resources Offi now directly owns 3,929 shares in the company, valued at $0.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 13, President and CEO Gibson John B sold 194 shares of the business’s stock. A total of $23,340 was realized by selling the stock at an average price of $120.31. This leaves the insider owning 52,792 shares of the company worth $5.75 million. Insiders disposed of 158,157 shares of company stock worth roughly $17.22 million over the past 1 year. A total of 10.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PAYX stock. A new stake in Paychex Inc. shares was purchased by FARMER STEVEN PATRICK during the first quarter worth $139,901,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $43,052,000 in shares of PAYX during the first quarter. In the first quarter, TREXQUANT INVESTMENT LP acquired a new stake in Paychex Inc. valued at approximately $20,003,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in PAYX for approximately $10,058,000. QUANTBOT TECHNOLOGIES LP purchased a new stake in PAYX valued at around $7,587,000 in the second quarter. In total, there are 1,859 active investors with 73.20% ownership of the company’s stock.
With an opening price of $109.96 on Tuesday morning, Paychex Inc. (NASDAQ: PAYX) set off the trading day. During the past 12 months, Paychex Inc. has had a low of $104.78 and a high of $139.47. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 1.30, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $37.65B, which is based on a 26.25 price-to-earnings ratio, a 3.16 price-to-earnings-growth ratio, and a beta of 0.96. The fifty day moving average price for PAYX is $108.87 and a two-hundred day moving average price translates $116.23 for the stock.
The latest earnings results from Paychex Inc. (NASDAQ: PAYX) was released for Feb, 2023. According to the Staffing & Employment Services Company, earnings per share came in at $1.29, beating analysts’ expectations of $1.24 by 0.05. This compares to $1.19 EPS in the same period last year. The net profit margin was 30.50% and return on equity was 46.90% for PAYX. The company reported revenue of $1.38 billion for the quarter, compared to $1.28 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.23 percent. For the current quarter, analysts expect PAYX to generate $1.22B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/25/2023. Investors who held shares on 05/11/2023 were paid a $0.89 dividend. On an annualized basis, this represents a $3.56 dividend and a 3.27% percent yield. There was an ex-dividend date of 05/10/2023 for this dividend. In terms of dividend payout ratio, PAYX is presently at 75.80%.
Paychex Inc.(PAYX) Company Profile
Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers’ compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.
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