1 week Ago By ABMN Staff
Paychex ( NASDAQ:PAYX – Free Report ) had its target price raised by Barclays from $135.00 to $140.00 in a research note published on Monday morning, Benzinga reports.
The firm currently has an equal weight rating on the business services provider’s stock. Several other equities research analysts also recently commented on the stock. Morgan Stanley lifted their price objective on shares of Paychex from $122.
00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. UBS Group lifted their price target on Paychex from $125.
00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co.
increased their price objective on Paychex from $133.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, November 19th.
TD Cowen lifted their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd.
Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a report on Friday. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock.
According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.23.
Read Our Latest Stock Analysis on Paychex Paychex Trading Down 0.1 % Paychex ( NASDAQ:PAYX – Get Free Report ) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.
14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02.
The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion.
Paychex had a net margin of 31.98% and a return on equity of 45.97%.
The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.
08 earnings per share. On average, research analysts predict that Paychex will post 4.98 earnings per share for the current fiscal year.
Paychex Announces Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 7th were given a dividend of $0.98 per share.
The ex-dividend date of this dividend was Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.
81%. Paychex’s dividend payout ratio is presently 82.53%.
Insiders Place Their Bets In other news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.
35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.
70. The trade was a 42.84 % decrease in their ownership of the stock.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link . Also, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction that occurred on Wednesday, October 9th.
The shares were sold at an average price of $139.03, for a total value of $3,674,284.84.
Following the transaction, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This trade represents a 64.
55 % decrease in their position. The disclosure for this sale can be found here . Over the last quarter, insiders sold 54,174 shares of company stock worth $7,577,231.
Company insiders own 11.40% of the company’s stock. Institutional Trading of Paychex A number of institutional investors and hedge funds have recently modified their holdings of the stock.
CVA Family Office LLC lifted its stake in Paychex by 5.6% in the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after buying an additional 74 shares in the last quarter.
Fortitude Family Office LLC raised its holdings in shares of Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares during the last quarter.
Kanawha Capital Management LLC lifted its position in shares of Paychex by 1.8% in the third quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after acquiring an additional 75 shares in the last quarter.
Baron Wealth Management LLC boosted its stake in shares of Paychex by 2.2% in the third quarter. Baron Wealth Management LLC now owns 3,628 shares of the business services provider’s stock worth $487,000 after acquiring an additional 79 shares during the last quarter.
Finally, Daymark Wealth Partners LLC increased its position in shares of Paychex by 0.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after purchasing an additional 82 shares in the last quarter.
Hedge funds and other institutional investors own 83.47% of the company’s stock. Paychex Company Profile ( Get Free Report ) Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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. See Also Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter .
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