Paychex, Inc. (NASDAQ:PAYX) has been given an average recommendation of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $73.92.

Several brokerages have weighed in on PAYX. Barclays lifted their target price on Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Monday, April 1st. Credit Suisse Group lifted their target price on Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $64.00 to $68.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call.

Paychex stock traded up $1.97 during mid-day trading on Tuesday, hitting $83.58. 1,357,640 shares of the company’s stock traded hands, compared to its average volume of 1,914,120. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $30.01 billion, a P/E ratio of 32.78, a PEG ratio of 3.18 and a beta of 1.04. Paychex has a one year low of $59.55 and a one year high of $83.61.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, March 27th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, research analysts expect that Paychex will post 2.85 earnings per share for the current fiscal year.

In other news, CEO Martin Mucci sold 50,000 shares of Paychex stock in a transaction on Monday, February 4th. The stock was sold at an average price of $72.32, for a total transaction of $3,616,000.00. Following the transaction, the chief executive officer now directly owns 349,929 shares in the company, valued at approximately $25,306,865.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $74.98, for a total value of $749,800.00. Following the transaction, the vice president now owns 31,701 shares in the company, valued at $2,376,940.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,272 shares of company stock worth $16,042,029. 11.80% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of PAYX. We Are One Seven LLC acquired a new position in shares of Paychex in the 4th quarter worth $25,000. Liberty Wealth Management LLC acquired a new position in shares of Paychex in the 4th quarter worth $25,000. TCI Wealth Advisors Inc. grew its holdings in shares of Paychex by 404.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new position in shares of Paychex in the 4th quarter worth $27,000. Finally, Loeb Partners Corp acquired a new position in shares of Paychex in the 4th quarter worth $39,000. Institutional investors own 68.66% of the company’s stock.

About Paychex

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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