Weekly Investment Analysts’ Ratings Updates for Paychex (PAYX)
Paychex (NASDAQ: PAYX) recently received a number of ratings updates from brokerages and research firms:
- 7/1/2017 – Paychex was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 6/30/2017 – Paychex had its price target lowered by analysts at Robert W. Baird from $63.00 to $60.00. They now have a “neutral” rating on the stock.
- 6/30/2017 – Paychex had its price target lowered by analysts at Morgan Stanley from $56.00 to $55.00. They now have an “underweight” rating on the stock.
- 6/30/2017 – Paychex had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $60.00 price target on the stock, down previously from $62.00.
- 6/29/2017 – Paychex had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $60.00 price target on the stock.
- 6/20/2017 – Paychex was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating. They now have a $64.00 price target on the stock, down previously from $68.00.
- 6/6/2017 – Paychex had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $61.25 price target on the stock, down previously from $65.00.
Paychex, Inc. (NASDAQ PAYX) traded down 0.39% during mid-day trading on Monday, hitting $56.88. The stock had a trading volume of 1,586,486 shares. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $63.03. The firm’s 50-day moving average is $58.87 and its 200 day moving average is $59.90. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 25.28 and a beta of 0.96.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 28th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $799 million during the quarter, compared to analyst estimates of $797.70 million. Paychex had a return on equity of 42.65% and a net margin of 25.93%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. Equities analysts anticipate that Paychex, Inc. will post $2.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.50 per share. This is a positive change from Paychex’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, July 28th. This represents a $2.00 annualized dividend and a yield of 3.52%.
In other Paychex news, Director Joseph M. Velli sold 9,000 shares of Paychex stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $58.29, for a total transaction of $524,610.00. Following the completion of the sale, the director now owns 30,624 shares of the company’s stock, valued at $1,785,072.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark Anthony Bottini sold 35,000 shares of Paychex stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $60.01, for a total value of $2,100,350.00. Following the sale, the vice president now directly owns 47,007 shares of the company’s stock, valued at approximately $2,820,890.07. The disclosure for this sale can be found here. Insiders have sold 157,151 shares of company stock valued at $9,128,718 in the last three months. 11.60% of the stock is owned by corporate insiders.
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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